Guggenheim sells multistrategy hedge fund

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Guggenheim Partners sold its multistrategy hedge fund to a group including the former co-head of Royal Bank of Canada’s capital-markets division. Terms of the transaction weren’t disclosed.

Bloomberg news reports that Mark Standish, the former co-head of RBC Capital Markets, has teamed with Loren Katzovitz and Patrick Hughes, managing partners of the Guggenheim Global Trading alternative investment management business, according to a Guggenheim statement on Monday.

The sale was reported earlier by The Wall Street Journal.

The new firm’s name is Deimos Asset Management and is expected to start as an investment adviser on or about Feb. 1, according to a filing with the U.S. Securities and Exchange Commission dated Jan. 14. Ares Management LP has given Deimos an equity investment, according to the statement.

Hit the link below to access the complete Bloomberg News article:

Guggenheim Said to Sell Hedge Fund to Group of Managers

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