An electronic market maker and quantitative trading shop is investing in a very nearby liquid alternatives specialist.
| Andrew Dassori
Wavelength Capital Management
Co-Founder, Chief Investment Officer
has acquired an ownership stake in Wavelength Capital Management
, confirms Ari Rubenstein
, co-founder and CEO of GTS. Both firms are based in New York City, in midtown Manhattan, at 545 Madison Avenue: GTS on the 15th floor and Wavelength on the 16th.
Pricing and terms of the deal were not disclosed.
in 2013, and as of October 8, 2018 the firm had $39.4 million in AUM, according to its latest form ADV. Its flagship product is a fixed income mutual fund, the Wavelength Interest Rate Neutral Fund
, also launched in 2013. Wavelength is now owned by MANG Investments
(a subsidiary of GTS' LVA Partners Limited
) and by Wavelength co-founders Andrew Dassori
and Mark Landis
Rubenstein describes the deal as "a marriage of quant investing with quant trading."
"We couldn't ask for a better, more like-minded partner in GTS, whose platform and infrastructure are second to none when it comes to a foundation for the next generation of investing," Dassori states.
"Our partnership with GTS fits seamlessly with our core values and provides Wavelength with market-leading resources, scale, and data," Landis states.
Editor's Note: A prior version of this story mischaracterized the timing of MANG Investments' connection to Wavelength. MANG, a subsidiary of GTS' LVA Partners Limited, now owns a sizable stake in Wavelength.
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