Artificial Intelligence–powered hedge fund Castle Ridge Asset Management has accepted a strategic investment from Canaccord Genuity Group, a global financial services firm that specializes in wealth management and capital markets.
The investment will enable Castle Ridge to expand its distribution channel with Canaccord Genuity Wealth Management, which manages more than $60 billion in client assets in Canada, the United Kingdom, Europe and Australia.
Adrian de Valois-Franklin, CEO of Castle Ridge, stated, “We are thrilled to be backed by an investor with such global reach. Together, we believe Castle Ridge represents the future of asset management. Our proprietary WALLACE AI platform constantly adapts to ever-changing financial markets. WALLACE is the culmination of 20 years of experience of what works, and more importantly, what does not work when trying to apply Machine Learning techniques to the markets. As a result, we developed a completely new branch of self-evolving Artificial Intelligence called Geno-Synthetic Algorithms.”
Castle Ridge has a full range of investment funds, which includes U.S. and Global Equities, Market Neutral, Macro, Fixed Income, Foreign Exchange and Multi-Strategy. As an example, Castle Ridge’s flagship U.S. Large Cap Alpha strategy (Castle Ridge LP) was ranked #2 of 214 global Equity Long funds tracked by the Barclay Hedge database for net performance in 2018. Castle Ridge’s investment products are tailored for accredited high-net-worth, family office, institutional, pension plan and sovereign wealth fund clients.
