Halcyon hedge fund to go public

Halcyon Asset Management LLC is poised to access the public equity markets for the first time in the company’s 27 year-history as a result of an acquisition by Alternative Asset Management Acquisition Corp. The New York-based hedge fund manager’s new public entity will be called Halcyon Management Inc. and has $11.5 billion in assets under management. Halcyon was valued during the transaction by New York-based AAMAC at roughly $974 million and the hedge fund’s members will initially have stakes in around 43.6% of the fully diluted ownership interests of the new entity. The transaction is expected to be completed during the third quarter 2008 pending AAMAC stockholder approval. “We believe this transaction benefits all parties involved as it allows Halcyon to access the public market and further achieve its strategic objectives at an attractive valuation for AAMAC public shareholders, said John Bader, Co-Chairman of Halcyon Asset Management LLC, who will become chief executive officer of the newly formed Halcyon Management Inc. once the deal is approved.