Babson Buys Into Firm Founder By Ex-Global Alpha Manager

Sep 12 2011 | 2:30pm ET

Babson Capital Management has agreed to take a minority stake in the new hybrid hedge fund firm co-founded by the former co-manager of Goldman Sachs' former flagship hedge fund.

Babson, a subsidiary of MassMutual, bought less than 10% of SECOR Asset Management. That firm was set up last year by Ray Iwanowski, the former co-head of quantitative strategies at Goldman and co-manager of its Global Alpha fund, and Tony Kao, former chief investment officer of General Motors Asset Management.

New York- and London-based SECOR offers hedge fund, consultancy and advisory services to small- and mid-sized pension funds, the Financial Times reports. It currently serves as adviser to a $7.5 billion global pension fund manager and is building its SECOR Alpha Strategies unit, which will invest in quantitative hedge funds.

SECOR currently has 27 employees.

Iwanowski left Goldman two years ago, two years after Global Alpha, once dubbed the "Cadillac of hedge funds," lost 40% and suffered massive redemptions.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR