Ontario Teachers' Pension Plan Invests in Deimos Asset Management

Mar 3 2015 | 6:06pm ET

Ontario Teachers’ Pension Plan will be an anchor investor in Deimos Asset Management, a new hedge fund led by a group that includes a former Co-CEO of RBC Capital Markets.

Ontario Teachers' is the largest single-profession pension plan in Canada. The pension plan, which maintains $112.3 billion in assets, will invest an undisclosed sum into the new fund.

Deimos formed after a management buyout of Guggenheim Global Trading, the former multi-manager, multi-strategy hedge fund platform of Guggenheim Partners. Global alternatives asset manager Ares Management also announced a strategic equity investment in Deimos.

Deimos will be led by Patrick Hughes and Loren Katzovitz, former co-heads of Guggenheim Global Trading, and Mark Standish, a former Group Executive of Royal Bank of Canada and Co-CEO of RBC Capital Markets.

The three will hold the title of Managing Partners.

Deimos said it plans to develop a suite of alternative asset management products, which is expected to include a multi-strategy hedge fund, along with a wide variety of individual hedge fund strategies.

Deimos launched its operations with nine investment strategies focusing initially on the U.S. and Europe with plans to expand into additional markets over time.

Ontario Teachers' Pension Plan invests on behalf of 307,000 retired and working teachers. Roughly 8% of its assets are exposed to hedge funds through absolute return strategies.

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