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Company type | LLP |
---|---|
Industry | Financial services |
Founded | 1997[1] |
Founders | |
Headquarters | London, United Kingdom |
Products | Investment products |
AUM | US$ 82.1 billion (as of November 2024) [6] |
Website | www |
Marshall Wace LLP is a British hedge fund headquartered in London, England, founded by Paul Marshall and Ian Wace in 1997. [7] Marshall serves as chairman and chief investment officer, and Wace as a chief executive officer & chief risk officer. [8] The company is recognised as one of the world's largest hedge fund managers. [9] [10]
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. [11] 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. [12]
In August 2014, Marshall Wace made $36 million from going short on the collapse of the Portuguese bank Banco Espírito Santo. [13]
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. [14]
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. [15] Profits amounted to £538 million which was shared between 26 partners of the company. [15]
Marshall Wace manages several long-short equity funds. [16]
The firm manages more than $64 billion as of January 2022 and operates from fund management offices in London, New York, Hong Kong, Shanghai, and Singapore. [17] The head office in London is situated on Sloane Street. [18]
The company is a founding member of the Hedge Fund Standards Board (HFSB) [19] and a member of the Alternative Investment Management Association (AIMA). [20]
Marshall Wace runs a proprietary alpha capture system TOPS (Trade Optimised Portfolio System), which polls the investment ideas of equity sell-side practitioners (generalists, sector specialists, strategists, and economists) around the world and uses algorithms to analyse and optimise this information into liquid equity portfolios. [21] The company's funds include UCITS-compliant vehicles. [22]
Year | AUM, Billion USD$ |
---|---|
1997 [12] | .05 |
2006 [23] | 4.3 |
2007 [24] | 11 |
2008 [25] | 15 |
2009 [26] | 6.3 |
2010 [27] | 6 |
2014 [28] | 18 |
2015 [1] | 22 |
2016 [5] | 25 |
2017 [12] | 29 |
2019 [29] | 39 |
2020 [30] | 43.8 |
2021 [31] [32] [33] [34] | 54.2 |
2022 [31] [32] [33] [34] | 44.5 |
2023 [31] [32] [33] [34] | 59 |
2024 [31] [32] [33] [34] | 82.1 |
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