Company type | LLP |
---|---|
Industry | Financial services |
Founded | 1997[1] |
Founders | |
Headquarters | London, United Kingdom |
Products | Investment products |
AUM | US$ 64 billion (as of January 2022) |
Website | www |
Marshall Wace LLP is a British hedge fund headquartered in London, England, founded by Paul Marshall and Ian Wace in 1997.[6] Marshall serves as chairman and chief investment officer, and Wace as a chief executive officer & chief risk officer.[7] The company is recognised as one of the world's largest hedge fund managers.[8][9]
Before starting the fund, Paul Marshall was Head of European Equities at Mercury Asset Management, whilst Ian Wace was Head of Equities Trading at Deutsche Bank.[10] In 1997, Marshall and Wace launched Marshall Wace; they were managing $50 million — $25 million from George Soros and $25 million sourced via family and friends.[11]
In August 2014, Marshall Wace made $36 million from going short on the collapse of the Portuguese bank Banco Espírito Santo.[12]
In 2015 Kohlberg Kravis Roberts agreed to buy a 24.9 percent stake in Marshall Wace.[1]
In 2020, Marshall Wace announced its plans to raise $1 billion for a new green hedge fund which will depend on the environmental and ethical attributes for trading stocks.[13]
In December 2023, the company reported revenues of £1.2 billion in the year ending February 2023, down from £1.5 billion on the previous year.[14] Profits amounted to £538 million which was shared between 26 partners of the company.[14]
Marshall Wace manages several long-short equity funds.[15]
The firm manages more than $64 billion as of January 2022 and operates from fund management offices in London, New York, Hong Kong, Shanghai, and Singapore.[16] The head office in London is situated on Sloane Street.[17]
The company is a founding member of the Hedge Fund Standards Board (HFSB)[18] and a member of the Alternative Investment Management Association (AIMA).[19]
Marshall Wace runs a proprietary alpha capture system TOPS (Trade Optimised Portfolio System), which polls the investment ideas of equity sell-side practitioners (generalists, sector specialists, strategists, and economists) around the world and uses algorithms to analyse and optimise this information into liquid equity portfolios.[20] The company's funds include UCITS-compliant vehicles.[21]
Year | AUM, Billion USD$ |
---|---|
1997[11] | .05 |
2006[22] | 4.3 |
2007[23] | 11 |
2008[24] | 15 |
2009[25] | 6.3 |
2010[26] | 6 |
2014[27] | 18 |
2015[1] | 22 |
2016[5] | 25 |
2017[11] | 29 |
2019[28] | 39 |
2020[29] | 43.8 |
2021[30] | 55 |
2022[16] | 64 |