Tourmaline Partners, a trading solution for hedge funds and asset managers, formally announced it received a majority investment from Copley Equity Partners.
The development comes alongside Tourmaline’s existing technology and human capital initiatives which provide clients access to unparalleled liquidity, market intelligence, customized workflows, and best execution.
In a statement on the development, Peter Trovato, Managing Partner at Copley Equity Partners said “We have followed Tourmaline closely for several years and have been impressed with their long-term vision and global expansion. Tourmaline has captured lightning in a bottle, as changes across the trading landscape – from MiFID II-driven unbundling, to liquidity fragmentation and cost pressures – have led the buy-side to seek outsourced and supplemental trading solutions to gain efficiencies and improve trading performance.”
The strategic investment will help Tourmaline bring to market new technologies, expand to new geographies, and add new asset classes.
“Building Tourmaline has been a labor of love, and we wanted to choose a partner that could get us to the next level without compromising our unique business model,” said Aaron Hantman, Tourmaline CEO, and founding partner. “Since Copley Equity is a private family office with no brokerage-related services of its own, or investments in any brokerage firms, Tourmaline can continue to grow while remaining 100% conflict-free with the broad range of sell-side firms we trade with. We look forward to a close collaboration with Copley as we grow our business and continue to do great things for our clients.”
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