Wednesday, 20 August 2014
Last updated 25 min ago
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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note