Marshall Wace
British hedge fund
From Wikipedia, the free encyclopedia
Marshall Wace LLP is a British hedge fund headquartered in London, England, founded by Paul Marshall and Ian Wace in 1997.[7] Marshall serves as chairman and chief investment officer, and Wace as a chief executive officer & chief risk officer.[8] The company is recognised as one of the world's largest hedge fund managers.[9][10]
| |
Company type | LLP |
|---|---|
| Industry | Financial services |
| Founded | 1997[1] |
| Founders | |
| Headquarters | London, United Kingdom |
| Products | Investment products |
| AUM | US$ 82.1 billion (as of November 2024)[6] |
| Website | www |
History
Before starting the fund, Paul Marshall was Head of European Equities at Mercury Asset Management, whilst Ian Wace was Head of Equities Trading at Deutsche Bank.[11] In 1997, Marshall and Wace launched Marshall Wace; they were managing $50 million — $25 million from George Soros and $25 million sourced via family and friends.[12]
In August 2014, Marshall Wace made $36 million from going short on the collapse of the Portuguese bank Banco Espírito Santo.[13]
In 2015 Kohlberg Kravis Roberts agreed to buy a 24.9 percent stake in Marshall Wace.[1]
In 2020, Marshall Wace announced its plans to raise $1 billion for a new green hedge fund which will depend on the environmental and ethical attributes for trading stocks.[14]
In December 2023, the company reported revenues of £1.2 billion in the year ending February 2023, down from £1.5 billion on the previous year.[15] Profits amounted to £538 million which was shared between 26 partners of the company.[15]
Operations
Marshall Wace manages several long-short equity funds.[16]
The firm manages more than $64 billion as of January 2022 and operates from fund management offices in London, New York, Hong Kong, Shanghai, and Singapore.[17] The head office in London is situated on Sloane Street.[18]
The company is a founding member of the Hedge Fund Standards Board (HFSB)[19] and a member of the Alternative Investment Management Association (AIMA).[20]
Products
Marshall Wace runs a proprietary alpha capture system TOPS (Trade Optimised Portfolio System), which polls the investment ideas of equity sell-side practitioners (generalists, sector specialists, strategists, and economists) around the world and uses algorithms to analyse and optimise this information into liquid equity portfolios.[21] The company's funds include UCITS-compliant vehicles.[22]