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Peak6 Hedge-Fund Business to Spin Out From Chicago Trading Firm

Sep 18, 2014

LONDON-Chicago trading firm Peak6 Investments LP is spinning out its $2.3 billion hedge-fund business, which will change its name and focus on growth by trading European credit and stocks out of a new London office.

Peak6 Investments, which specializes in options trading and clearing using its own capital, told investors Thursday of the plans to sell its stake in its Peak6 Advisors hedge-fund business, according to a letter sent to hedge-fund clients reviewed by The Wall Street Journal.

Peak6 Advisors will become Achievement Asset Management, continuing under its chief executive since 2012, former UBS AG executive Joseph Scoby, who'll also be chief investment officer.

Mr. Scoby, 49 years old, is buying out the roughly 50% stake in the hedge-fund business that Peak6 Investments owns. Other Achievement Asset Management executives will then receive equity in the new firm.

Mr. Scoby said Thursday in a brief interview that Peak6 Advisors opened a London office a month ago and is focused on ramping up its investing in European stocks, corporate bonds and bank loans through existing Peak6 hedge funds that launched two years ago.


Arlene Busch
312-498-9595
abusch@contegocapital.com<mailto:abusch@contegocapital.com