Gartmore Investment acquired by fund

Now private equity firms are buying into the hedge fund business. Gartmore Investment Management, which manages about $45 billion, has announced it will be acquired by Hellman & Friedman, a private equity firm based in San Francisco. The winners will be senior managers and executives, all of whom own a significant equity stake. They will also remain in control of the firm's operations. There was concern that the likes of Roger Guy and Guillaume Rambourg, who run the firm's AlphaGen Capella fund, might leave.

> Here's a MarketWatch article.