Buys Hedge Fund Firm Weston Capital

Mar 30 2010 | 7:10pm ET

Money management and advisory shop has acquired $1 billion hedge fund firm Weston Capital Management.

Terms of the deal were not disclosed, but Weston founder Albert Hallac will remain CEO of the hedge fund manager and seeding firm, which is based in West Palm Beach, Fla. Chairman Joseph Bianco will also assume the same post at Weston.

“We believe with the Weston Capital operations when aligned with's majority interest in AdvisorShares, a developer and marketer of actively managed exchange-traded funds. will be able to significantly accelerate increases of assets under management since it now has the ability to seed, originate and distribute hedge funds as well as seed, originate, develop and distribute actively traded ETFs to institutional and retail investors,” CEO Gregory Webster and Hallac said in a joint statement.

Weston Capital has three lines of business: it originates and markets fund of funds; it originates and markets single-manager hedge funds; and it raises capital to seed new hedge funds. In 2010, Weston Capital formed a strategic alliance with $4.5 billion alternative asset management firm Harcourt.

“Weston anticipates that with greater resources and an entry to the fast-growing ETF market, we will offer our existing and potential clients a broader range of financial investment opportunities,” Hallac added. “In particular, we see great potential for growing our assets under management and related fee income by expanding our seeding platform to include the origination and development of new actively managed ETFs.”

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


Hedge Funds Swarm Into Palm Beach

Oct 27 2016 | 2:32pm ET

As the first flakes of snow fall on New York's northern suburbs, Dan Weil of South...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...