UBS in Talks to Sell Its Hedge Fund Unit O’Connor to Cantor

UBS Group AG is in talks to sell its hedge fund unit O’Connor to Cantor Fitzgerald LP, a move that would end a more than three-decade run of ownership by the Swiss bank, according to people familiar with the matter.

The deal could involve a possible revenue sharing agreement, one of the people said. In that case, Cantor would acquire the unit from UBS’s asset management division, and the Swiss bank would receive some of the proceeds, the person said.