NEW YORK--(BUSINESS WIRE)--Direct Access Group, LLC (Direct Access), a diversified institutional financial services enterprise, today announced that it will acquire Discovery Capital Management, LLC (Discovery). The acquisition is the first transaction following the appointment of Donald Motschwiller to lead the Direct Access asset management business and formally launches the asset management initiative. Thomas Zucosky, Founder of Discovery Capital, and Jonathan Friedman, Chief Investment Officer, will retain their current roles.
Ben Chinea, CEO and Founder of Direct Access Group added, “The Discovery acquisition is the realization of our firm’s strategic goal to expand into relevant and complimentary business lines. Direct Access continues to pursue new business opportunities in asset management and global institutional trading across all asset classes.”
Tom Zucosky, President of Discovery, commented, “We are excited to join Direct Access as the cornerstone of its asset management division. Our flagship fund offers investors access to alpha-focused hedge fund talent exclusively via separately managed accounts. Direct Access is the perfect platform to introduce a forward looking and innovative product to institutional investors and family offices seeking non-correlated returns.”
Donald Motschwiller, Managing Partner, remarked, “The acquisition of Discovery is an important first step toward building our asset management franchise. Discovery is an excellent strategic fit with Direct Access. I have collaborated with Tom and Jonny in the past and welcome them as colleagues. We look forward to growing the asset management business organically and through further acquisitions.”
Hedge fund managers or proven traders interested in learning more about Discovery Capital Management and the asset management strategies should contact Tom Zucosky at tom@discoverycap.com or call 212-812-2023.
About Direct Access:
Founded in 2002, Direct Access Group, LLC, the parent of Direct Access Partners, LLC, is an institutional diversified financial services enterprise.
Direct Access Partners, LLC offers multi-asset class trading capabilities in over 100+ developed and emerging markets to a range of buy-side clients including mutual funds, hedge funds and registered investment advisers. The firm provides a wide range of trading-related services including global introduced prime services, independent research and commission management. The Capital Alternatives Group offers hedge fund clients a unique integrated capital introduction and capital raising service offering.
Direct Access Partners, LLC received Minority Business Enterprise (MBE) status in 2007 and has been certified by numerous states, county and city pension plans and is an active member in numerous regional minority business councils.
Direct Access Partners, LLC has offices in New York, Boston, Miami and a presence on the NYSE floor.
Direct Access Partners, LLC is a member of NYSE Euronext, Finra, MSRB, NFA and SIPC.
For more information about Direct Access Partners, LLC please refer to our website at www.daptrading.com.