Tuesday, 23 September 2014
Last updated 1 hour ago
Jan 25 2012 | 1:33pm ET
Guggenheim Partners' multi-strategy hedge fund, Guggenheim Global Trading, has launched operations with $250 million of the $500 million pledged by the parent company.
GGT took on its first third-party investor on Jan. 16, it said in a Securities and Exchange Commission filing. It now boasts three such investors, and plans to continue offering the vehicle for at least a year.
There is a $10 million minimum investment requirement.
GGT was established in March 2011 with an initial commitment of $500 million from Guggenheim Partners. The firm says it will commit up to another $1.5 billion over the next few years to the strategy, managed by Patrick Hughes and Loren Katzovitz, who previously managed the Guggenheim Advisors fund of hedge funds managed account platform.
Prime brokers are Morgan Stanley and Credit Suisse, the administrator is Citco and the auditor is PwC.
Guggenheim Global Trading is now in the process of recruiting, and aims ultimately to have 25 to 30 trading groups. The firm has offices in Purchase, N.Y. and envisions eventual expansion to Chicago, San Francisco, Geneva and Asia.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.