Man Group To Purchase US Firm Leveraged Loan Management Firm, Silvermine Capital

Man Group PLC (LON:EMG) (OTCMKTS:MNGPF) is a world renowned hedge fund with $72.3 billion assets under management, which is based in the UK, as the largest publically traded hedge fund.  The company has announced they have entered into an agreement with Silvermine Capital, a US leveraged loan management company, for as much as $70 million purchase price.   Silvermine Capital focuses on credit investments solely in the US. According to the agreement, Man Group will pay Silvermine $23.5 million in cash, with an additional $16.5 million after one year and $16.5 million after five years.  The amounts will fluctuate depending on management…