TechFlow news — On November 27, according to Cointelegraph, Swedish publicly traded company Hilbert Group announced a full-stock acquisition of Liberty Road Capital (LRC), which will significantly boost its assets under management and strengthen its AI trading and crypto derivatives capabilities. The upfront consideration for the acquisition consists of 2.727 million Class B shares, representing approximately 4% of Hilbert Group's share capital.
Russell Thompson, co-founder of LRC, will join Hilbert Group. Thompson co-founded the traditional hedge fund The Cambridge Strategy in 2003, which reached $3.5 billion in assets under management and was successfully sold in 2018. Founded in 2019 and headquartered in the British Virgin Islands, LRC holds an investment management license issued by the local Financial Services Commission.
Under the agreement, LRC's business revenues over the next two years will be split 50:50, with LRC committing to convert its entire share of proceeds into new Class B shares of Hilbert Group. Hilbert Group CEO Niclas Sandström stated that the acquisition will significantly accelerate the company's growth and expand its range of trading strategies.
