Tuesday, 13 October 2015
Last updated 20 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."
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…