 | |
 Headquarters at 100 Summer Street | |
| Industry | Investment management |
|---|---|
| Founded | 2001 |
| Headquarters | , |
Key people | Bob Minicus (President and chief executive officer) |
| Products | Index funds Quantitative funds |
| AUM | $1.155 trillion (December 2023) |
Number of employees | 142 (2022) |
| Website | www |
| Footnotes /references [1] | |
Geode Capital Management, LLC (Geode) is an American investment management firm based in Boston, Massachusetts.
Geode was originally set up by Fidelity Investments in 2001 to run systematic long/short equity strategies and to incubate new strategies. [2] Fidelity initially committed $229 million to Geode Capital, which was computer-driven as an investor, with Fidelity executive Jacque Perold installed as the head of the firm. Perold was later succeeded in 2007 by Vince Gubitosi, who in 2021 was succeeded by Bob Minicus. [3]
In 2003, Geode was spun off as an independent company. [2] A possible reason was to avoid the potential conflict of Geode shorting stocks held by Fidelity's mutual funds. [4] Although separate from Fidelity, it remained located near Fidelity's headquarters on Summer Street in Boston. It continued to manage Fidelity's passive funds as a sub-adviser, according to the Financial Times in England. [5] That year, in 2003, Fidelity Investments hired Geode Capital Management to subadvise on three Spartan equity index funds. [6]
In 2020, it had almost $720 billion assets under management with around 140 employees. [7] [8] In February 2021, the firm was profiled in the Wall Street Journal , with the paper calling it Fidelity's "Secret weapon". [7] [8] During the same month, the firm shut down its hedge fund business following losses due to derivatives. [9]
At the start of 2022, Geode surpassed $1 trillion in assets under management due to the popularity of index funds. [5]
Geode primarily acts as manager (in sub-advisory role) to registered funds (most notably Index Funds) sponsored by Fidelity Investments and to affiliates National Financial Services and Fidelity Brokerage Services. Through the Fidelity Automated Managed Platform (AMP), Geode provides digital advice and discretionary investment services.
In addition, Geode also manages assets for both institutional and retail investors. This includes corporations, investment companies, pension funds, sovereign wealth funds, state and municipal government entities and charitable organizations. It also counts U.S. residents who are and aren't high-net-worth individuals as clients.
The firm is owned by its employees and board of directors. Most of the staff are quants, which are engineers trained in mathematics or computer science. [3] [7] [8] In 2023, Lionel T. Harris served as chairman of the board. Bob Minicus is president and CEO. The board overall included ten members. [10]
Geode invests in public equity and alternative investment markets, primarily focusing on the growth and value stocks of small to large cap companies.
Geode states it uses a systemic and risk-managed approach to investing that is team-based, seeking capture systematic sources of return by "emphasizing a repeatable, risk-managed and collaborative investment process." [11] In pursuit of both alpha generation and beta exposure, the firm's strategies include equity indexes, options, quantitative active equity, commodities, and multi-asset classes. [12]
The Carlyle Group Inc. is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index. In the 2023 ranking however, it had slipped to fifth place.
Fidelity Investments, commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts. The company was established in 1946 and is one of the largest asset managers in the world with $4.3 trillion in assets under management, and, as of December 2022, their assets under administration amount to $10.3 trillion. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance.
An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or commodities such as gold bars. The list of assets that each ETF owns, as well as their weightings, is posted on the website of the issuer daily, or quarterly in the case of active non-transparent ETFs. Many ETFs provide some level of diversification compared to owning an individual stock.
D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The company is known for developing complicated mathematical models and sophisticated computer programs to exploit anomalies in the financial market. As of December 1, 2023, D. E. Shaw manages $60 billion in AUM, including Alternative Investments and Long-Oriented Investments.
An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked companies, insurers, pension funds, sovereign wealth funds, charities, hedge funds, REITs, investment advisors, endowments, and mutual funds. Operating companies which invest excess capital in these types of assets may also be included in the term. Activist institutional investors may also influence corporate governance by exercising voting rights in their investments. In 2019, the world's top 500 asset managers collectively managed $104.4 trillion in Assets under Management (AuM).
Permal Group is a global investment management firm focused on hedge funds and private equity funds products for international investors. Permal, founded in 1973, operates one of the oldest fund of hedge funds and manages approximately $22 billion in assets. Clients include sovereign wealth funds, pension funds, endowments, foundations, insurance companies, family offices, private banks and high-net-worth individuals. Its CEO is Omar Kodmani and its Chairman is Isaac R. Souede. Permal is headquartered in London, with offices in New York, Boston, Singapore, Paris, Nassau, Dubai, Hong Kong, and Beijing.
In finance, assets under management (AUM), sometimes called fund under management, measures the total market value of all the financial assets which an individual or financial institution—such as a mutual fund, venture capital firm, or depository institution—or a decentralized network protocol controls, typically on behalf of a client. Funds may be managed for clients, platform users, or solely for themselves, such as in the case of a financial institution which has mutual funds or holds its own venture capital. The definition and formula for calculating AUM may differ from one entity to another.
Oaktree Capital Management, Inc. is an American global asset management firm specializing in alternative investment strategies. As of March 31, 2023, the company managed $172 billion for its clientele.
Robert D. Arnott is an American businessman, investor, and writer who focuses on articles about quantitative investing.
Silver Lake, legally Silver Lake Technology Management, L.L.C., is an American global private equity firm focused on technology and technology-enabled investments. Silver Lake is headquartered in Silicon Valley and New York, and has offices in London, Hong Kong, and Singapore.
An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any asset class excluding capital stocks, bonds, and cash. The term is a relatively loose one and includes tangible assets such as precious metals, collectibles and some financial assets such as real estate, commodities, private equity, distressed securities, hedge funds, exchange funds, carbon credits, venture capital, film production, financial derivatives, cryptocurrencies, non-fungible tokens, and Tax Receivable Agreements. Investments in real estate, forestry and shipping are also often termed "alternative" despite the ancient use of such real assets to enhance and preserve wealth. Alternative investments are to be contrasted with traditional investments.
Apollo Global Management, Inc. is an American private equity firm. It provides investment management and invests in credit, private equity, and real assets. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors.
HarbourVest Partners is a private equity fund of funds and one of the largest private equity investment managers globally. The firm invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies.
Partners Group Holding AG is a Swiss-based global private equity firm with US$141.7 billion in assets under management in private equity, private infrastructure, private real estate and private debt.
GAM Investments is an independent, pure play asset management group headquartered in Zurich. The Group sells to a wide range of client segments such as institutions, wholesale intermediaries, financial advisers, and private investors. The Group’s investment management business is complemented by a private labelling unit which provides outsourcing for third-party asset managers.
A quantitative fund is an investment fund that uses quantitative investment management instead of fundamental human analysis.
Winton Group, Ltd is a British investment management firm founded by David Harding. In the United States, Winton is registered with the Securities and Exchange Commission as an investment advisor and with the Commodity Futures Trading Commission as a CTA, and is authorised by the Financial Conduct Authority in the UK. The company trades on more than 100 global futures markets in a wide variety of asset classes and on global equity markets. The firm was launched with $1.6 million in 1997, reached a peak of $28.5 billion in assets under advisement, before dropping to $7.3 billion by late 2020. Winton Group has six offices around the world: London, New York, Hong Kong, Shanghai, Sydney, and Abu Dhabi.
D1 Capital Partners is an American investment firm based in New York City, United States. The firm invests in both public and private markets globally.
Arrowstreet Capital (Arrowstreet) is an American investment management firm based in Boston. The firm is noted for its usage of quantitative analysis in its approach to investing as well as maintaining a low profile despite its large number of assets under management.
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