Blueshift Asset Management, a Red Bank, New Jersey-based quantitative investment firm focused on statistical arbitrage and high-frequency trading strategies, received a minority investment from White Oak Equity Partners.
The terms of the transaction were not disclosed.
White Oak led a group of strategic investors who provided the equity capital to launch Blueshift’s business and trading activities.
Led by Chief Executive Officer and Chief Investment Officer Mani Mahjouri, Blueshift Asset Management is a quantitative investment management firm which deploys quantitative research-based trading knowledge to its statistical arbitrage and high-frequency strategies across a range of structures.
Before launching, the firm’s team managed the asset management activities of Tradeworx, Inc., a financial technology firm.
The investment provides Blueshift with the funding to acquire the intellectual property the team had developed while at Tradeworx, and to maintain the personnel and technology required to run the business as an independent entity.
White Oak and the investor group will work collaboratively with Blueshift to pursue its business objectives over the long-term, including the expansion of its team and operations and the strategic development of its business, products and research initiatives.