Sunday, 28 December 2014
Last updated 3 days ago
May 3 2012 | 7:40am ET
New York-based financial services firm Direct Access Group is set to acquire Discovery Capital Management and its funds of managed accounts.
The acquisition is the first since Donald Motschwiller, former Dahlman Rose & Co president, was tapped to lead Direct Access’ new asset management business. Discovery founder Thomas Zucosky and CIO Jonathan Friedman will remain in their posts.
Said Zucosky in a statement: “We are excited to join Direct Access as the cornerstone of its asset management division. Our flagship fund offers investors access to alpha-focused hedge fund talent exclusively via separately managed accounts. Direct Access is the perfect platform to introduce a forward-looking and innovative product to institutional investors and family offices seeking non-correlated returns.”
Ben Chinea, CEO and founder of Direct Access Group, said: “The Discovery acquisition is the realization of our firm’s strategic goal to expand into relevant and complimentary business lines. Direct Access continues to pursue new business opportunities in asset management and global institutional trading across all asset classes.”
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.