William Blair Buys Fund Of Funds Guidance

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.


In Depth

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...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

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