Goldman Sachs Takes Stake in Brokerage Firm

May 2 2008 | 2:01am ET

Goldman Sachs has made an investment in BTIG, an equity trading and brokerage firm that caters to the hedge fund community.

According to a BTIG spokesman, the proceeds from Goldman Sachs’ investment are expected to be used to facilitate the company's ongoing growth plans, which include expanding in the U.S. and building out the firm’s trading capabilities in other strategic international locations.

BTIG will continue to operate as a fully independent firm, majority-owned by its employees.

“As a leading execution broker, BTIG is fast becoming one of the most recognized agency execution firms helping institutional investors source liquidity to implement their trading decisions,” said Philip Hylander, a managing director at Goldman Sachs.

"We formed BTIG knowing that changes in the brokerage industry could create an opportunity for a high-touch customer service oriented firm to succeed,” said Scott Kovalik, co-founding partner of BTIG. 

“This investment will assist us in expanding our businesses and deploying our quality service model to a broader base of clients,” said Steve Starker, co-founding partner of BTIG.

BTIG serves nearly 1,000 institutional customers and offers services from four divisions: institutional trading, prime brokerage, outsource trading and direct market access. The firm has offices in New York, San Francisco, Dallas, Boston, Chicago, Greenwich, Red Bank, and Aspen, and has affiliates in London, Hong Kong and Sydney.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of