BoI takes over 70% of US fund-manager

Bank of Ireland has entered into an agreement to acquire 71.5% of Guggenheim Alternative Asset Management, a US hedge-fund manager focusing on institutional and high-net-worth clients, for an estimated $184m (€153m).

Guggenheim has about $2.8bn (€2.3bn) assets under management and is part of Guggenheim Partners, a private wealth and investment management firm.