FORT L.P., the systematic hedge fund led by two ex-World Bank economists, has divested a 9.99% minority stake to an investment fund managed by Goldman Sachs, Petershill Fund II.
FORT manages over $1.5bn on behalf of institutional and high net worth investors globally. The firm invests across multiple asset classes across global markets.
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Under the deal, FORT’s senior management has made long term commitments to the business, and FORT retains complete control over the firm’s operations and investment process.
Also, FORT has hired David Barrett joins as head of business development and Spyros Papadakis as chief operating officer.
FORT co-founder Yves Balcer said: "Since its first fund formed eight years ago, Petershill has invested in a select group of high-caliber asset managers – it’s satisfying to have such a formidable investor with significant resources aligned with us in further institutionalizing and developing the firm."
FORT co-founder Sanjiv Kumar said: "We continue to make serious investments across all areas of our operations including proprietary research, systems, technology, trading and finance."
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