JPMorgan gets hedge fund brokerage with Bear buy:

03/18/2008 | Bloomberg

The acquisition of Bear Stearns gives JPMorgan Chase the third largest hedge fund brokerage. News of the acquisition stabilized Bear's hedge fund business, which had been losing clients as financial woes mounted. "As bad as things are at Bear Stearns, this is still a franchise with a lot of value," said William Fitzpatrick of Optique Capital Management.

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