Numeric Investors is putting itself up for sale, Mike Even, president and chief executive officer of the Boston-based asset management firm told Reuters on Friday. The quantitative equity manager, with $7.7 billion in assets under management, has hired Barclays PLC to oversee the sale, Even said.The firm is coordinating the sale with its private equity partner, TA Associates, which has held a minority stake in Numeric since 2004, Even said."We feel now is a good time to sell for us from a returns point of view and for TA for where they are in their investment cycle," Even said.A call to TA was not immediately returned. A Barclays spokesman declined to comment.
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS traded higher by 1.28% or $0.24/share to $19.05. In the past year, the shares have traded as low as $9.23 and as high as $20.60. On average, 2920900 shares of BCS exchange hands on a given day and today's volume is recorded at 9507217.
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