Sunday, 3 May 2015
Last updated 1 day ago
Jan 21 2011 | 12:49pm ET
Fund of hedge funds shop Guidance Capital has been sold to investment firm William Blair & Co., its first foray into the hedge fund space.
William Blair has acquired most of Guidance's assets under management, some $300 million worth, and adding Guidance's dozen employees to its own ranks. Some cash assets are not to be acquired.
Terms of the deal, set to close during the first quarter, were not disclosed. William Blair said Guidance would "maintain its existing, independent, time-tested research and investment process."
Guidance suffered substantial redemptions last year, declining from an asset peak of $400 million. But the funds did relatively well, returning about 9% in 2010.
William Blair has some $46 billion in assets under management.
Guidance's Chicago staff will relocate to William Blair's offices, two blocks from their current South Wacker Drive digs. The fund of funds' Delaware staff will stay put; William Blair has offices in Boston, Hartford, Indianapolis, New York, San Francisco and four cities abroad, but none in the First State.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…