CSB Crosby Asset.

    RNS Number : 7052C
  Crosby Asset Management Inc
  04 September 2008
   

    Crosby Asset Management Inc.
    ("Crosby" or the "Company")

    Sale of International Funds Research and Ratings Business



    Crosby Asset Management ("CAM") is pleased to announce the sale, for a nominal initial consideration with a three year earn out
mechanism, to Old Broad Street Research ("OBSR") of the international funds research and ratings business CAM acquired from the
administrator of Forsyth Partners in September 2007. Any cash received under the earn out mechanism will be applied to general working
capital for the development of the Company.

    As part of the deal CAM will receive privileged access to OBSR's research database for three years.

    Steve Fletcher, Chief Operating of CAM, commented: 'When we acquired the ratings business as part of the Forsyth takeover, we recognised
that research and ratings, while a good operation, was not core to our central business strategy. As we move towards the completion of the
restructuring of the business to focus on two key funds - a multi-asset long-only fund and a multi-strategy fund of hedge funds - it is an
opportune time to sell the research and ratings business. We know OBSR well, and we are confident that the move will ensure continuity of
service for both our asset management and research clients'.

    Enquiries:

 Crosby Asset Management Inc.  +44 20 7590 2800
 Steve Fletcher

 Strand Partners Limited       +44 20 7409 3494
 Stuart Faulkner





This information is provided by RNS
The company news service from the London Stock Exchange
 
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