A CarVal Investors LLC executive disclosed that London-based asset manager Schroders PLC approached the company in May regarding a potential deal, Reuters reported Sept. 6.
The hedge fund manager, however, told Schroders that it was not for sale. The firm has been approached by several other big asset managers over the last two years, CarVal Managing Principal Lucas Detor told the news outlet.
Two years ago, agricultural company Cargill Inc., CarVal's parent company, has tried to sell the hedge fund business, but its efforts to pursue two potential deals did not materialize, the news outlet added.
CarVal manages about 20 funds, including hedge funds and private equity funds, according to the report.