White Oak Equity Partners (White Oak), a private equity firm that purchases minority GP interests in alternative asset managers, has acquired a minority interest in Blueshift Asset Management, 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 have not been disclosed.
Prior to launching the Firm, the Blueshift team, led by Chief Executive Officer and Chief Investment Officer Mani Mahjouri (pictured), managed the asset management activities of Tradeworx, 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,” says 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.”
Mahjouri adds: “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.”
