A Quant Trading Firm Buys Into a Liquid Alts Shop
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Friday, December 14, 2018

A Quant Trading Firm Buys Into a Liquid Alts Shop

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
GTS 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.

Wavelength launched 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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