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Rating:Lane and O'Neill Buy a Smart Beta Shop for GSAM Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, April 22, 2014

Lane and O'Neill Buy a Smart Beta Shop for GSAM

Reported by Tommy Fernandez

An alts giant is apparently embracing smart beta.

Goldman Sachs has announced that it will buy the Boulder-based smart beta shop Westpeak Global Advisors.

The deal is expected to close June 2014. No details of the transaction were disclosed.

According to its website, Westpeak is firm that specializes in "ActiveBeta Strategies," which "provide a high-capacity capture and a high-efficiency capture of volatility, momentum, value, and size common factor returns, independently as well as in factor diversification strategies."

The strategies are offered as "public indexes through partnerships with Russell Investment Group and FTSE Group and ActiveBeta Smart Portfolios," according to the firm.

At the same time, Goldman announced that it was launching a Advanced Beta Strategies platform, which currently represents nearly $30B of assets under supervision (as of March 31, 2014). According to the company, the foundation of this new platform will include the smart beta business of Westpeak along with GSAM’s S&P Global Intrinsic Value Index strategies, a set of tax-sensitive equity strategies, and a range of liquid alternative beta strategies. The new platform will be overseen by Armen Avanessians, head of GSAM’s quantitative business.

In the Goldman statement both Timothy J. O’Neill and Eric S. Lane, co-heads of the Investment Management Division at Goldman Sachs are credited as saying that “GSAM’s acquisition of Westpeak affirms our strong commitment to providing our clients with innovative investment solutions.”

Goldman spokespeople were working on additional comments to MFWire at the time of publication.  

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