Deimos launches hedge fund management business

Deimos launches hedge fund management business

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Deimos Asset Management, a multi-strategy hedge fund manager, has launched its new hedge fund management business. Ares Management has made a strategic investment in the company. 

Deimos is focused on the development of a suite of alternative asset management products, which is expected to include a multi-strategy hedge fund, along with a wide variety of individual hedge fund strategies. Formed through a management buyout of Guggenheim Global Trading, Deimos launched its operations with nine investment strategies focusing initially on the US and Europe with plans to expand into additional markets over time.

“Having known the partners of Deimos professionally for many years, we are excited to work with this team to enter the large and rapidly growing hedge fund asset class, which represents 30% to 40% of all alternative investments today,” said Michael Arougheti, Co-Founder and President of Ares. 

“We believe we can create value with this strategic partnership by cross selling its hedge fund advisory services to our global investor base. This is a natural extension of our firm’s continuing diversification across alternative asset classes, which we believe enhances our value proposition to our investors.”

Deimos , the former multi-manager, multi-strategy hedge fund platform of Guggenheim Partners. Ontario Teachers’ Pension Plan is an anchor investor in Deimos’ multi-strategy product through a managed account platform.

“Ares possesses a world-class distribution and marketing team which will be invaluable to us as we expand our hedge fund offerings. We look forward to building this business and executing on what we see as a very large opportunity within the hedge fund space,” said Loren Katzovitz, one of Deimos’ managing partners.

Deimos is led by Patrick Hughes and Loren Katzovitz, former co-heads of Guggenheim Global Trading, and Mark Standish, a former group executive of Royal Bank of Canada and co-CEO of RBC Capital Markets, as managing partners.

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