Liberty Group said yesterday it had received takeover approaches for its Liberty Ermitage Jersey hedge fund business and might sell.
"We've had some approaches," Myles Ruck, the chief executive of Liberty, said in an interview.
"It's a nice business with great management and we're happy with it. It's just not core to Liberty's overall business."
Liberty appointed Hawkpoint Partners to advise on a sale.
Liberty Ermitage, based in Jersey, has more than $3.6 billion (R23.6 billion) under management, split almost equally between hedge funds and normal funds. Liberty Ermitage might be worth as much as $270 million, the Sunday Telegraph said.