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Lighthouse to buy Mesirow Financial's multimanager hedge fund division

Lighthouse Investment Partners LLC has agreed to acquire substantially all of the assets of Mesirow Advanced Strategies.

Mesirow Advanced Strategies, the multimanager hedge fund division of Mesirow Financial, handles about $8 billion for global institutional investors.

A significant part of the Mesirow Advanced Strategies team will transfer to Lighthouse. After the deal closes, Mesirow Financial will become a distribution partner for Lighthouse.

Financial terms of the transaction were not disclosed. The transaction is expected to close mid-2018.