White Oak Equity Partners has acquired a minority stake in Red Bank, New Jersey-based Blueshift Asset Management, a quantitative investment firm focused on statistical arbitrage and high-frequency trading strategies. No financial terms were disclosed.
NEW YORK – January 23, 2018 – White Oak Equity Partners (“White Oak”), a private equity firm that purchases minority GP interests in alternative asset managers, today announced that it has acquired a minority interest in Blueshift Asset Management (“Blueshift” or the “Firm”), a quantitative investment firm focused on statistical arbitrage and high-frequency trading strategies. White Oak led a group of strategic investors who provided the equity capital to launch Blueshift’s business and trading activities. Terms of the transaction were not disclosed.
Prior to launching the Firm, the Blueshift team, led by Chief Executive Officer and Chief Investment Officer Mani Mahjouri, managed the asset management activities of Tradeworx, Inc., a financial technology firm. The investment by White Oak provides Blueshift with the necessary funding to acquire the intellectual property the team had developed while at Tradeworx, and to maintain the personnel and technology required to run the business as an independent entity. White Oak and the investor group will work collaboratively with Blueshift to help the Firm pursue its business objectives over the long-term, including the expansion of its team and operations and the strategic development of its business, products and research initiatives.
“We believe the Blueshift team’s longstanding collaborative history, extensive trading experience, and unique approach to investing give them a strategic advantage at an increasingly competitive time in quantitative investing,” said Bruce Wilson, Chief Executive Officer of White Oak. “We invested in Blueshift because of their thought leadership and our view that the Firm is well-positioned to generate strong risk-adjusted returns in today’s investment environment. We look forward to working closely with Mani and the team to help Blueshift achieve its business goals for years to come.”
Mr. Mahjouri added, “We are thrilled to partner with White Oak, whose deep asset management industry expertise, relationships, and reputation will assist us as we continue to expand our team and develop our business and investment offerings.”
About White Oak Equity Partners
White Oak Equity Partners is a private equity firm that partners with established and highly skilled investment teams by purchasing non-controlling, minority GP interests in alternative asset management firms with less than $2B in assets under management. White Oak looks to play a strategic role in helping these firms build institutional businesses with global distribution capabilities to achieve significant asset growth. In 2016, White Oak formed a strategic relationship with Park Hill Group, a global advisory and placement agent, to evaluate new investment opportunities and provide marketing guidance to the firms in which White Oak invests. For more information, please visit: http://whiteoakequity.com/.
About Blueshift Asset Management
Blueshift Asset Management is a quantitative investment management firm headquartered in Red Bank, New Jersey. Led by Mani Mahjouri, a former Tradeworx, Sun Trading, and AQR executive who serves as Blueshift’s Chief Executive Officer and Chief Investment Officer, the Firm deploys quantitative research-based trading knowledge to its statistical arbitrage and high-frequency strategies across a range of structures. The team’s innovative approach has a 10-year history in statistical arbitrage and an 8-year history in high frequency trading. For more information, please visit: https://blueshift.am/.