Schonfeld Group Strengthens Commitment to Funding Leading Portfolio Management Teams

  • Increases Focus with Hire of Millennium’s Adin Kahn
  • Adds Five Portfolio Management Teams in Second Half of 2012 and Commits to Doubling Market Exposure
  • Highly-Focused Multi-Manager, Multi-Strategy Investment Approach with Proprietary Family Office Capital Fosters Secure, Creative Environment for Elite Portfolio Managers
  • Offers Generous Performance-Based Formulaic Payouts, IP Ownership and Portable Track Records

NEW YORK--()--Schonfeld Group Holdings LLC, a family office which engages in investment and trading activities, today announced the company will seek to double the size of its exposure in quantitative and relative value investment and trading strategies.

Schonfeld currently funds approximately 25 portfolio management teams across quantitative and relative value strategies. These groups represent approximately $2 billion in regulatory AUM for Schonfeld.

Former Millennium Senior Managing Director and Head of Business Development Adin Kahn is leading this expansion effort alongside Schonfeld Group’s long-time Executive Committee members, Steven Schonfeld, Andrew Fishman and Mark Peters. Kahn, who joined the firm as Senior Managing Director, has actively recruited five trading groups since commencing his work at Schonfeld in July.

The company also noted 5 additional teams that will commence “live” trading in the beginning of 2013, and a pipeline of potential teams that continues to grow.

Kahn said, “What initially attracted me to Schonfeld is its strong entrepreneurial culture, and the resilience of a company which has been a leader in the trading business for nearly 25 years. Having been in new business development for most of the past decade and focusing on bringing the world’s most talented trading teams to my employers, I was aware of Schonfeld’s emerging leadership in this business and impressed with the sophistication and comprehensive nature of its offering. Given the overwhelming interest we have seen in the last six months, I am more convinced than ever that Schonfeld’s extensive foothold in this space will continue to grow.”

Backed by industry-leading technology and the experience and commitment of a sophisticated investor in the market for 25 years, Schonfeld’s portfolio management ‘offering’ features:

  • Generous Performance-Based Formulaic Payouts
  • IP Ownership and Portable Track Records
  • The opportunity to raise funds outside of Schonfeld Group
  • The opportunity for managers to co-invest in their funds
  • Geographic flexibility

“Much has changed since the early 2000s when raising capital and launching a fund was easy, when banks highly valued these businesses and the fund of funds model was viewed as the next big thing,” commented Schonfeld Group President Andrew Fishman. “Beginning mid-decade we began listening closely to a marketplace in need of better, new solutions and believe our marriage of the multi-manager, multi-strategy model with our family office, provides an ideal platform to satisfy the needs of elite portfolio managers. The addition of Adin, a leading talent evaluator and highly-networked individual from the multi-manager fund leader Millennium, and the continued enhancement of our offering, gives us great confidence in our ability to double the size of our investments in the year-ahead.”

Over the past five years, Schonfeld has successfully recruited portfolio management teams from leading banks and hedge fund companies, including Barclays, BNP, Citibank, Citadel, Deutsche Bank, IVC, JP Morgan, Merrill Lynch, Millennium Partners, and Societe Generale.

“From our early days in the short-term proprietary trading business, we have been successful by offering arrangements which are far more generous and creative than those of our competitors. We continue to follow that approach as we put our imprint on the multi-strategy, multi-manager space,” commented Schonfeld CEO Steven Schonfeld.

About Schonfeld Group

Schonfeld Group Holdings LLC is a family office which makes investments in various market-neutral strategists, with an emphasis on quantitative statistical arbitrage, fundamental equity and active trading strategies in liquid asset classes. Schonfeld has been in business since 1988, assessing, evaluating and investing in portfolio managers covering an extensive array of asset classes in multiple global markets.

Contacts

Sloane & Company
Darren Brandt, 212-446-1861
dbrandt@sloanepr.com
or
Sara Sefcovic, 212-446-1886
ssefcovic@sloanepr.com

Contacts

Sloane & Company
Darren Brandt, 212-446-1861
dbrandt@sloanepr.com
or
Sara Sefcovic, 212-446-1886
ssefcovic@sloanepr.com