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Guggenheim Hedge Fund Subsidiary Plans Expansion

Jan 29, 2013
Jing Chen

A subsidiary of financial firm Guggenheim Partners plans to expand its multi-strategy hedge fund through hiring as many as 10 portfolio managers.

Loren Katzovitz and Patrick Hughes, partners at Guggenheim Partners, told Bloomberg that Guggenheim Global Trading is looking for managers in sector-specific long/short equities strategies, including energy and health care. The firm is currently in discussions with several candidates.

Katzovitz and Hughes also said that GGT wants to hire managers “who want to focus solely on investing, instead of the business and operational responsibilities that accompany opening a hedge fund, such as asset raising.”

GGT, which started trading in February 2012, manages over $500 million in assets for Guggenheim Partners. It expects its assets to grow up to $2 billion over the next few years.

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