Thu, Nov 27, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Goldman Sachs Petershill Fund to acquire passive minority interest in macro manager Mount Lucas

Friday, December 24, 2010
Opalesque Industry Update - The Goldman Sachs Petershill Fund ("Petershill") will acquire a passive minority interest in Mount Lucas. By partnering with Petershill in this way, we gain access to increased resources, while preserving our complete autonomy. As the press release below indicates, Mount Lucas will operate in the same manner as in the past. Our staff remains the same, as does our investment approach. As before, your satisfaction and trust remain our chief priorities.

This investment is a significant milestone in the continued development of our asset management business. The transaction further endorses Mount Lucas as a leading global macro manager, provides access to the resources of Petershill as a strategic partner for the business, and enhances our ability to attract, incentivize and retain experienced professionals by providing an independent valuation on the equity of the firm. A substantial portion of the proceeds from the transaction will be re-invested in Mount Lucas's funds.

We also are annoucing that at year-end, Paul DeRosa, one of our principals, will assume the office of Chairman – a post that has been vacant since Frank Vannerson’s passing in 2008. All of us at Mount Lucas admire Paul’s keen financial insight, steady approach to the markets, and congenial manner. We are delighted that Paul will be chairing the firm as we look to further the success of our investment offerings and grow our overall business. Paul will no longer be involved in the day-to-day management of MLM Macro-Peak™, our global macro strategy.

Bob Barbera, our Chief Economist, will assume Paul’s day-to-day role in the portfolio management process for MLM Macro-Peak™. Our approach to this portfolio has been – and will continue to be – collaborative, with Roger Alcaly, Bob, and me all contributing. Bob will concentrate on fixed income, an area in which he has specialized for more than two decades.

Finally, we are pleased to announce that Jerry Prior will become an equity partner in the firm at year end. Jerry has been with Mount Lucas since 1997 and is integral to our investment and operations success. A key driver in adopting new technologies at the firm, Jerry is a Director of Quantitative Research for our global macro portfolio and a Portfolio Manager for our MLM Index™ products.

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - George Soros puts $500m of his money on Bill Gross, Soros, Paulson backed Hispania Activos mulls Realia takeover, Ex-Credit Suisse trader’s hedge fund sees yen shorts as crowded, Hedge hunters double default-swaps as views split, Large hedge fund positions come under pressure, Vikram Pandit's fund picks 50% stake in JM Financial's realty lending arm for $87m[more]

    George Soros puts $500m of his money on Bill Gross From WSJ.com: Before Bill Gross was fully settled in at his new firm, Janus Capital Group Inc., he received an unlikely visit from the chief investment officer of famed investor George Soros ’s firm, according to a person familiar with t

  2. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  3. Europe - Hedge funds face exit tax as Iceland central bank discusses plan[more]

    From Bloomberg.com: Hedge funds and other creditors with claims against Iceland’s failed banks face an exit tax as the island looks for ways to unwind capital controls without hurting the economy. The government targets having a plan it can present by year-end that would map out how Iceland will sca

  4. Opalesque Exclusive: Risk management emerges as a competitive focus area for hedge funds[more]

    Bailey McCann, Opalesque New York: Risk management has always been a core component of any trading strategy, as well as a critical part of business management. However, as macreconomic weakness persists, and alpha becomes increasingly hard to generate, risk management as emerged as a more promin

  5. Gross: Inflation is required to pay for prior inflation[more]

    Benedicte Gravrand, Opalesque Geneva: As inflation rises, every dollar will buy a smaller percentage of a good. While deflation will mean a decrease in the general price level of goods and services. These two economic conditions are both in the waiting room. The consensus would like the former to