Guggenheim Partners has unveiled a new company that will invest up to $2 billion in trading strategies. Guggenheim seeded the new business, Guggenheim Global Trading (GGT), with $500 million of corporate money and is seeking a small group of institutional investors interested in taking an equity stake in the new company. GGT, which will invest capital on behalf of the firm, its shareholders, its affiliates and a small group of institutional investors, will be based in Purchase, New York, and will be headed by Loren Katzovitz and Patrick Hughes, both managing partners of Guggenheim Partners. GGT may hire nearly 20-25 trading groups within the next 12 months.
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