Guggenheim Global Trading Launches Operations With $250M

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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat