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UBS Renegotiates Hedge Fund Deal Amid First Brands Bankruptcy

10/8/2025

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Summary

Story summary

Cantor Fitzgerald LP is renegotiating UBS's O’Connor hedge-fund unit after First Brands Group's bankruptcy.
The deal now excludes a key strategy and lowers the purchase price.
UBS has over $500 million exposure to First Brands, with 30% of a fund linked to the company.
O’Connor's funds invested in invoice-backed debt tied to First Brands via Raistone, which is struggling.

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Story summary

Cantor Fitzgerald LP is renegotiating UBS's O’Connor hedge-fund unit after First Brands Group's bankruptcy.
The deal now excludes a key strategy and lowers the purchase price.
UBS has over $500 million exposure to First Brands, with 30% of a fund linked to the company.
O’Connor's funds invested in invoice-backed debt tied to First Brands via Raistone, which is struggling.