Deals & People January 20, 2011

William Blair & Company to Acquire Guidance Capital

William Blair & Company announced an agreement to acquire certain assets of Guidance Capital LLC, a specialist in developing and managing multi-manager hedge fund of funds strategies.
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The global investment firm expects to complete the transaction in the first quarter of 2011. Guidance Capital has offices in Chicago and Delaware; the Chicago office will move into William Blair’s Chicago headquarters. The Guidance Capital office in Delaware will remain open.

According to the announcement, Guidance Capital was founded in 2001 and manages a series of hedge fund of funds that fall under the broad categories of absolute-return, equity long/short, commodities, and managed futures strategies.   

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“Guidance Capital gives us added perspective on the investment landscape. They will continue to operate as they successfully have to date, but will actively collaborate to leverage our broad intellectual talent for the benefit of all our clients,” said Michelle R. Seitz, head of William Blair Investment Management and a member of the firm’s executive committee, in the announcement.
Products January 20, 2011

Wasatch Closes Fund through Third Party Platforms

Wasatch Advisors announced that it intends to close the Wasatch Small Cap Growth Fund (WAAEX) to new investors through most third party intermediary platforms as of January 31, 2011.
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The fund will remain open to existing fund shareholders, and new investors will still be able to purchase fund shares directly from Wasatch Funds.  

According to the announcement, financial advisers and retirement plan sponsors with an established position in the Wasatch Small Cap Growth Fund will continue to have access to the fund for both current and future clients. Similarly, retirement plans currently invested in the fund will be able to continue to offer it to both current and future plan participants.   

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“Wasatch takes product capacity very seriously. We monitor the assets under management in each of our funds carefully and commit to our shareholders that we will close funds before assets rise to a level where they would alter our intended investment strategy for a fund,” said Eric Huefner, Vice President and Director of Mutual Funds, in the announcement.

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