Wednesday, 6 May 2015
Last updated 21 hours ago
Apr 23 2013 | 1:13pm ET
Institutional brokerage Weeden & Co. is moving into the hedge fund services business with the acquisition of prime broker Saxis Group.
New York-based Saxis will remain headed by founder Sohail Khalid. Terms of the deal were not disclosed.
"This acquisition underscores Weeden's strategic objective of investing in cutting-edge technologies and platforms that give our clients a competitive edge," Lance Lonergan, co-CEO of Greenwich, Conn.-based Weeden, said.
Four-year-old Saxon focuses on early-stage and emerging hedge fund managers, featuring a technology platform that offers risk analytics, customizable trading and asset allocation services to funds and family offices. The firm also offers fundraising and separately-managed account options.
Khalid said the merger was designed to make Saxis "the destination for any hedge fund looking to grow its business, grow its assets and make efficient use of technology."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…