A company spokeswoman confirmed that the company is going to drop certain businesses "to focus on its core competencies: absolute return, alternative strategies, structured products and financing." Babson supplies these products primarily to institutional clients, including hedge funds.
As part of the move, the firm will merge its large-cap value funds, which are sold under the Tamarack Funds banner, into another MassMutual subsidiary,
Sources tell the Journal that the changes will likely take place next month, although a buyer has not yet been identified.