Westrock Asset Management and Creighton Capital Management have formed a joint venture to develop quantitative asset management portfolios for institutional and qualified investors.
Westrock Asset Management and Creighton Capital Management have formed a joint venture to develop quantitative asset management portfolios for institutional and qualified investors.
The joint venture will initially offer an investment grade bond fund, a high yield bond fund and a global equity market neutral fund. The initial funds are expected to be available later this autumn and additional products will be released throughout 2010.
Creighton Capital Management was founded and is managed by Jim Creighton, who has over 30 years of asset management experience and previously served as chief investment officer at Barclays Global Investors, Deutsche Asset Management and Northern Trust.
Donald H. Hunter, Jr., chief executive officer and president of Westrock, says: "The partnership substantially extends our reach to institutions and makes Westrock one of the few minority-owned firms to offer quantitative products. We expect that this best-in-class offering will make a powerful contribution to our firm’s success."
In separate news, the parent company of Westrock Asset Management, Westrock Group, has been acquired by the Lower Brule Sioux Tribe. With this transaction, Westrock Group becomes the first US full service financial services firm to be wholly-owned by a Native American tribe.
"We’re excited to be working with Don Hunter and the Westrock Asset Mangement team," says Creighton. "Through our relationship with Westrock, we will be able to deliver cutting edge products to institutional and qualified investors. In addition to producing tangible benefits for our clients, we are excited about the ability to contribute to the economic development of the Lower Brule Sioux Tribe through this venture."
