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Ben Chinea, CEO and Founder of Direct Access Group added, “The Discovery acquisition is the realization of our firm’s strategic goal to expand into relevant and complimentary business lines. Direct Access continues to pursue new business opportunities in asset management and global institutional trading across all asset classes.”

Tom Zucosky, President of Discovery, commented, “We are excited to join Direct Access as the cornerstone of its asset management division. Our flagship fund offers investors access to alpha-focused hedge fund talent exclusively via separately managed accounts. Direct Access is the perfect platform to introduce a forward looking and innovative product to institutional investors and family offices seeking non-correlated returns.”

Donald Motschwiller, Managing Partner, remarked, “The acquisition of Discovery is an important first step toward building our asset management franchise. Discovery is an excellent strategic fit with Direct Access. I have collaborated with Tom and Jonny in the past and welcome them as colleagues. We look forward to growing the asset management business organically and through further acquisitions.”

(press release)

Founded in 2002, Direct Access Group, the parent of Direct Access Partners, LLC, is an institutional diversified financial services enterprise. Direct Access Partners, LLC offers multi-asset class trading capabilities in over 100+ developed and emerging markets to a range of buy-side clients including mutual funds, hedge funds and registered investment advisers. The firm provides a wide range of trading-related services including global introduced prime services, independent research and commission management. The Capital Alternatives Group offers hedge fund clients a unique integrated capital introduction and capital raising service offering. www.daptrading.com

BG