Goldman Sachs Petershill private equity fund which invests in hedge fund firms has purchased a 9.99% stake in Fort, a firm that uses computer-drive automated trading strategies. Petershill will share in Fort’s management and performance fees. Fort, which stands for Financial Opportunities in Research and Trading, has $1.5bn AUM. The deal is the latest example of Wall Street investing heavily into technology start-ups to boost their returns.
Goldman Sachs Petershill private equity fund which invests in hedge fund firms has purchased a 9.99% stake in Fort, a firm that uses computer-drive automated trading strategies. Petershill will share in Fort’s management and performance fees. Fort, which stands for Financial Opportunities in Research and Trading, has $1.5bn AUM. It is a systematic investment adviser led by two prominent asset managers and Ph.D. Economists who formerly ran the investment division at the World Bank.