Saturday, 27 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.