An alts giant is apparently embracing smart beta.
that it will buy the Boulder-based smart beta shop Westpeak Global Advisors
The deal is expected to close June 2014. No details of the transaction were disclosed.
According to its website
, Westpeak is firm that specializes in "ActiveBeta Strategies," which "provide a high-capacity capture and a high-efficiency capture of volatility, momentum, value, and size common factor returns, independently as well as in factor diversification strategies."
The strategies are offered as "public indexes through partnerships with Russell Investment Group and FTSE Group and ActiveBeta Smart Portfolios," according to the firm.
At the same time, Goldman announced
that it was launching a Advanced Beta Strategies
platform, which currently represents nearly $30B of assets under supervision (as of March 31, 2014). According to the company, the foundation of this new platform will include the smart beta business of Westpeak along with GSAM’s S&P Global Intrinsic Value Index strategies, a set of tax-sensitive equity strategies, and a range of liquid alternative beta strategies. The new platform will be overseen by Armen Avanessians, head of GSAM’s quantitative business.
In the Goldman statement
both Timothy J. O’Neill and Eric S. Lane, co-heads of the Investment Management Division at Goldman Sachs are credited as saying that “GSAM’s acquisition of Westpeak affirms our strong commitment to providing our clients with innovative investment solutions.”
Goldman spokespeople were working on additional comments to MFWire
at the time of publication.
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