Billionaire Michael Hintze’s CQS is exploring options including selling part of its asset-management business, according to people with knowledge of the matter.
The London-based firm is working with an adviser to gauge potential interest, said the people, who asked not to be identified because talks are private. CQS is considering a range of transactions including divesting a stake or selling one or both of its long-only and asset backed securities businesses that now make up the bulk of its more than $15 billion in assets.
The firm could also spin out some of the activities, two of the people said. It’s not clear if Hintze’s flagship Directional Opportunities fund is also part of the deal talks. Deliberations are ongoing and there’s no certainty CQS will proceed with a deal, the people said. The firm has held talks to sell a stake in the past without anything materializing, they said.
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