•  
• Tweet
•  
•  
•        Print
•  
•        Email
•  
•         Track Keywords

Under the terms of the agreement, First New York will leverage FundSeeder's global reach in identifying skilled traders and its performance evaluation platform to provide capital to leading emerging trading talent. First New York will allocate capital via managed accounts to accelerate the growth of the best traders on the FundSeeder platform. Both firms share core philosophical tenants that is the foundation for this strategic collaboration:

• The best traders are not exclusively domiciled in New York or the United States.

• The best traders are not always included in traditional recruitment and sourcing efforts.

• The best traders are not necessarily at multi-billion alternative asset management firms.

• Traders running smaller books often generate superior alpha and offer better risk/reward prospects.

The purpose of the strategic partnership will be to identify, evaluate, and fund thousands of individuals around the world that comprise the next generation of global trading talent. Emanuel Balarie, CEO and Co- Founder of FundSeeder said, "Since we started FundSeeder, we have had over 17,000 traders sign up from over 120 countries globally. In many ways, we have created a baseball farm system for new money managers."

Commenting on the collaboration, Donald Motschwiller, CEO of First New York said, "For decades, First New York has partnered with traders and portfolio managers across a variety of asset classes. We are a risk-aware and resource rich organization seeking to utilize our competitive advantage to identify and allocate capital to emerging traders. Supporting creative, active, and tactical trading strategies is exactly what we do best. I have known Jack Schwager for years and his reputation as a thought leader in the trading community is well deserved. We are thrilled to work together to achieve our mutual objectives."

Jack Schwager, Co-Founder and Chief Research Officer of FundSeeder added, "I have been aware of First New York as a sophisticated and equitable allocator to skilled traders for many years. In fact, each of my last two Market Wizards books have included a trader funded by First New York. I am absolutely delighted that FundSeeder and First New York will be working together to offer asset management opportunities to skilled traders worldwide, fostering the democratization of asset allocation."