Weeden Investors, the parent company of Weeden & Co – a full-service institutional broker, has completed the acquisition of Saxis Group, a full-service prime brokerage business.
Under the confidential terms of the agreement, Saxis Group becomes a wholly owned subsidiary of Weeden Investors and will continue to be led by its founder and chief executive Sohail Khalid.
Saxis Group is a technology-powered prime brokerage business focused on providing institutional quality services to hedge funds and family offices. With a focus on capital raising and cutting edge technology Saxis Group has created a platform under which its clients can grow their businesses. Saxis Group offers a platform that includes dynamic proprietary risk management and analytics technology (Armor), customisable trading applications (Razer), automated allocation technology and sophisticated portfolio reporting. These tools allow clients to effectively manage their complex trade and allocation demands.
Saxis Group has forged deep relationships with investors who are “natural buyers” of early stage and emerging hedge fund managers. These capital allocators, consisting largely of family offices, fund of funds, institutional and ultra high net-worth investors, have contributed to the asset growth of many clients. Investors may choose to leverage the separately managed account platform or invest directly into a client’s limited partnership. Investors also use the Armor risk management system provided by Saxis Group in order to manage risk and exposure levels on a real-time basis.
“This is a key investment in, and a natural extension of, our product suite offering to the investment community. This effort will provide opportunities to cross-sell many quality products, including high-touch execution services and proprietary risk management products to a wider audience of hedge funds and investment advisors,” says Andrew Formato, president of Weeden & Co.
“We are excited about this transaction as we believe Weeden & Co. is the ideal partner for Saxis Group and its clients,” says Khalid. “Our clients now have access to a greater range of products including high-touch trading services, advisory services and better access to liquidity. This transaction allows Saxis Group to expand its proven technology and services platform to a broader set of asset managers and family offices who are seeking the best alternatives to grow their businesses.”