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Chicago Firm Raised $1B for New Hedge Fund

May 09, 2013
Jing Chen

Chicago-based Peak6 Investments’ asset management unit has raised $1 billion for a new hedge fund.

Chicago Business reported that about 75% of the capital raised for the fund came from U.S.-based institutional investors, such as pensions, foundation and endowments while the rest are from high net-worth clients.

The fund will be managed by Joe Scoby, a former executive` at Chicago-based options trading firm, who joined Peak6 last year.

Peak6 manages nearly $1.5 billion between its two hedge funds, which includes the new platform, and hopes to double its AuM by 2015.

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