Deep Tide TechFlow News, on November 27, according to Cointelegraph, the Swedish listed company Hilbert Group announced an all-stock acquisition of Liberty Road Capital (LRC). The transaction will significantly enhance its asset management scale and strengthen its capabilities in AI trading and cryptocurrency derivatives business. The initial consideration for this acquisition is 2.727 million Class B shares, accounting for approximately 4% of Hilbert Group's equity.
LRC co-founder Russell Thompson will join Hilbert Group. Thompson co-founded the traditional hedge fund The Cambridge Strategy in 2003, which had an asset management scale of up to $3.5 billion and was successfully sold in 2018. LRC was established in 2019 and is headquartered in the British Virgin Islands, holding an investment management license issued by the local Financial Services Commission.
According to the agreement, in the next two years, the business revenue of LRC will be shared on a 50:50 basis, and LRC promises to convert all its share of the revenue into new Class B shares of Hilbert Group. Hilbert Group CEO Niclas Sandström stated that this acquisition will significantly accelerate the company's business development and expand the range of trading strategies.