Long/short equity hedge fund specialist Marshall Wace, with about $20 billion in assets under management, further diversified its investment offerings through the acquisition of 80 Capital, a quantitative hedge fund manager with $100 million under management.
The five-person team from 80 Capital will continue to run its flagship Helium systematic managed futures strategy, which will be rebranded MW Helium.
Philippe Azoulay, 80 Capital’s founder and CEO, will become a Marshall Wace partner, said George Trefgarne, a Marshall Wace spokesman, in an interview.
Neither the terms of the deal nor the names of the rest of the 80 Capital team were disclosed.
Marshall Wace plans continued expansion of its quantitative investment capabilities, said CEO Ian Wace, in a Wednesday statement obtained by Pensions & Investments.
“The hedge fund industry is evolving, and our belief is larger, better resourced firms running a diverse set of strategies are the ones which will thrive. We are steadily growing Marshall Wace by building on our established expertise,” through acquisition, Mr. Wace said in the statement.
He said Marshall Wace acquired a majority stake in peer-to-peer lender Eaglewood Capital Management in 2014 and added the two acquired money management firms “have the additional advantage of being (uncorrelated) to our existing long/short equity strategies.”