Forefront Moves Into Galleon's Old Offices

Oct 19 2010 | 9:33am ET

In New York, one firm's demise means another's new digs. Asset management firm Forefront Advisory has signed a 25,030-square foot 'sub' sublease with the former Galleon Group for the entire thirty-fourth floor at 590 Madison Avenue, more than doubling the size of its New York headquarters.

590 Madison Ave.590 Madison Ave.The firm, which had been located 13 blocks south on Madison Ave., says the new space can will allow it to go forward with its growth plans, which include having 25 portfolio managers on board by year-end.

"This transaction enables Forefront to move into high-end, turnkey space that can accommodate the group’s current size, as well as its near and long-term growth,” shared David Dusek, senior managing director of international commercial real estate services firm Studley. “Of paramount importance to Forefront was the ability to capitalize on the existing infrastructure left behind by Galleon – saving our client millions of dollars in up-front capital costs.”

David Wasitowsk, a managing partner at Forefront, added, “We create communities of bright portfolio managers and a culture that promotes the sharing of ideas and research within a professional trading environment. We also provide risk management, technology, compliance and operational support. If we don’t have enough space, our community and culture becomes constrained. The new space offers the physical room to grow and better reflects our image to the marketplace and portfolio managers.”


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note