Sunday, 24 May 2015
Last updated 1 day ago
Apr 27 2011 | 1:34pm ET
Caxton Associates has taken a minority stake in London-based hedge fund Wadhwani Asset Management in a deal that will see that firm's founder join Caxton as a partner.
Sushil Wadhwani, a former member of the Bank of England's monetary policy committee, is one of the U.K.'s top economists. His firm manages more than US$1 billion in assets under management.
Caxton will allocate a "meaningful" amount of money from its US$7 billion flagship to its newest partner's firm. In addition, WAM will relocate to New York-based Caxton's London offices.
"We have had a relationship with Wadhwani Asset Management for some time, and I have known him personally for the better part of a decade," said Andrew Law, Caxton's chief investment officer.
Wadhwani's "economic model-based approach to investing fits strategically with Caxton's overall macro investment philosophy," Law added.
Terms of the deal were not disclosed, but the Financial Times said it is estimated to be worth "tens, if not hundreds, of millions of dollars."
Before joining the Bank of England, Wadhwani worked at Tudor Investment Corp. and Goldman Sachs.
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…