Cantors sets eyes on Hedge Fund Industry
Cantor Fitzgerald is eyeing an expansion into hedge funds with plans to acquire both funds of hedge funds and single-manager teams.
The New York-based investment bank hopes to use its infrastructure and fund-raising capacity to attract talent. Cantor plans to buy one or two strategy-specific funds of funds over the next six months, Stephen Ardizzoni, head of the firm’s investment advisory business, told Bloomberg News, before seeking single-managers.
Ardizzoni said Cantor has already looked over as many as 75 managers over the past eight months and has “a couple” of potential Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term targets in mid.
“The asset management space is still trying to get sure-footed,” he said. “There are gems out there that really do need institutional support.”
To that end, Cantor will provide the hedge funds it acquires with infrastructure, technology and prime brokerage services. In addition, managers joining Cantor will have access to the firm’s 4,000 clients.
“For funds with less than $10 billion in assets, it is almost impossible to effectively raise institutional capital,” Ardizzoni told Bloomberg. “This is what has really created an opportunity set for us to strategically build an asset management business.”
After bringing on the fund of funds managers, Cantor may begin raising money to seed Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term hedge funds within the next six months to a year. And over the next one to three years, the firm will seek out single-managers to add to its platform. Ardizzioni said that Cantor would focus on former proprietary trading teams as well as teams spun off from investment banks or multi-strategy hedge funds. In particular, Ardizzioni told Bloomberg that the firm has its eye on specialist managers, among them directional credit, mortgage-backed and relative value credit managers.
Cantor's is a leading name in the FX space. It established its Prime Brokerage division in 2009, and recently it was named the top ranking PB in the Annual Global Custodian Prime Brokerage Survey.
Grab your latest copy of the Forex Magnates Retail Forex Industry Report.
Cantor Fitzgerald is eyeing an expansion into hedge funds with plans to acquire both funds of hedge funds and single-manager teams.
The New York-based investment bank hopes to use its infrastructure and fund-raising capacity to attract talent. Cantor plans to buy one or two strategy-specific funds of funds over the next six months, Stephen Ardizzoni, head of the firm’s investment advisory business, told Bloomberg News, before seeking single-managers.
Ardizzoni said Cantor has already looked over as many as 75 managers over the past eight months and has “a couple” of potential Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term targets in mid.
“The asset management space is still trying to get sure-footed,” he said. “There are gems out there that really do need institutional support.”
To that end, Cantor will provide the hedge funds it acquires with infrastructure, technology and prime brokerage services. In addition, managers joining Cantor will have access to the firm’s 4,000 clients.
“For funds with less than $10 billion in assets, it is almost impossible to effectively raise institutional capital,” Ardizzoni told Bloomberg. “This is what has really created an opportunity set for us to strategically build an asset management business.”
After bringing on the fund of funds managers, Cantor may begin raising money to seed Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term hedge funds within the next six months to a year. And over the next one to three years, the firm will seek out single-managers to add to its platform. Ardizzioni said that Cantor would focus on former proprietary trading teams as well as teams spun off from investment banks or multi-strategy hedge funds. In particular, Ardizzioni told Bloomberg that the firm has its eye on specialist managers, among them directional credit, mortgage-backed and relative value credit managers.
Cantor's is a leading name in the FX space. It established its Prime Brokerage division in 2009, and recently it was named the top ranking PB in the Annual Global Custodian Prime Brokerage Survey.
Grab your latest copy of the Forex Magnates Retail Forex Industry Report.