Friday, 22 August 2014
Last updated 2 hours 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note