NEW YORK and LONDON, April 27, 2011 /PRNewswire/ -- Caxton Associates, a New York-based trading and investment firm with trading offices in London and Sydney, announced today that it has signed an agreement to partner with London-based Wadhwani Asset Management. Under the agreement, Caxton will take a minority interest in Wadhwani Asset Management and the firm's founder and CEO, Dr. Sushil Wadhwani, will become a partner at Caxton.
Dr. Wadhwani takes a quantitative approach to investing that relies heavily on detailed economic models. Dr. Wadhwani will be responsible for utilizing his successful investment strategy to manage a meaningful notional capital allocation for Caxton Global Investments, Caxton's flagship global macro fund in parallel with the Keynes funds, the existing funds Dr. Wadhwani manages.
"We have had a relationship with Wadhwani Asset Management for some time, and I have known him personally for the better part of a decade." said Andrew Law, Caxton's Chief Investment Officer. "Dr. Wadhwani is a very talented investor with a successful track record and an impressive background. His economic model-based approach to investing fits strategically with Caxton's overall macro investment philosophy. We look forward to leveraging Dr. Wadhwani's tremendous background, experience and talent in economic analysis and to learning from, and sharing ideas with, Dr. Wadhwani and members of his team. We believe this alliance will expand Caxton's trading expertise."
"I am pleased to be joining forces with Caxton and have always admired their global macro approach to investing which has resulted in Caxton becoming one of the world's most successful hedge funds," said Dr. Sushil Wadhwani. "Caxton has built an experienced network of traders and I look forward to learning from the Caxton team. I am confident that this strategic alliance will help us to improve our investment performance."
Wadhwani Asset Management will be relocating to 40 Berkeley Square, the location of Caxton's London offices.
Prior to founding Wadhwani Asset Management, Dr. Wadhwani was a full-time external member of the Monetary Policy Committee at the Bank of England. From 1995 to 1999, he was a member of the management committee and a partner at Tudor Proprietary Trading and from 1991 to 1995, Dr. Wadhwani was Director of Equity Strategy at Goldman Sachs International. Dr. Wadhwani holds a BSc, MSc and PhD in economics from the London School of Economics.
About Caxton Associates
Caxton Associates LP, is a New York-based trading and investment firm formed as the successor to Caxton Corporation, which was founded in 1983 by Bruce Kovner. Caxton Associates' primary business is to manage client and proprietary capital through global macro hedge fund strategies as well as other alternative investment disciplines. Assets are managed via a broad mandate to trade in a variety of global markets and instruments. Caxton Associates and its affiliates currently manage approximately $10.9 billion in assets.
SOURCE Caxton Associates