Goldman Sachs’ Petershill Fund, which was launched to invest in a variety of hedge funds, will buy a minority stake in Pennsylvania-based hedge fund Mount Lucas, which has about $1.8 billion AUM, Dealbook reports.
Mount Lucas, which was founded in 1986 by Tim Rudderow, will retain control over their management, operations and investment strategies.
From the website, the only former Goldman employee that currently works for Mount Lucas trader Kent Huang, who used to be a a client service relationship VP in the prime brokerage division at the bank.
Mount Lucas uses three investment strategies; one is a global macro fund that trades in the world’s major asset classes and financial markets; one invests in future indexes; one invests in stocks in the S.&.P. 500 and holds them for about on a year.
Rudderow, a co-founder and Mount Lucas’ president, specialises in the design and management of technical trading systems applied to the futures, equity, and fixed income markets, according to the hedge fund’s website. He earned a B.A. in Mathematics from Rutgers and an MBA in Management Analysis from Drexel University.
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