Years of Experience
Number of Personnel
Total Firm AUM
Graham Capital Management, L.P. ("GCM") is an alternative investment manager founded in 1994 by Kenneth G. Tropin. For nearly three decades, GCM has specialized in providing compelling quantitative and discretionary alpha opportunities across a variety of market environments that seek low correlation to traditional investments. While GCM is one of the longest running macro and trend-following managers, the firm is committed to the innovative evolution of its strategies, supported by a well-established investment, technology, and operational infrastructure. By leveraging the unique synergies between the firm’s quantitative and discretionary trading businesses, GCM has developed a broad range of complementary alpha strategies with a focus on thoughtful portfolio construction, active risk management, and diversification by design. Significant proprietary capital is invested in many of GCM's strategies, contributing to the alignment of interest between the firm and its clients. GCM's clients include global institutions, endowments and foundations, family offices, sovereign wealth funds, investment management advisors, and qualified individual investors.
Quantitative strategies include trend-following, quantitative macro, equity market neutral, and other diversifying strategies which utilize multiple proprietary trading signals to capture alpha. Sophisticated risk management techniques are designed to optimize portfolio construction and enhance returns. Investment vehicles offered include private investment funds, managed accounts, sub-advised mutual funds and UCITS vehicles.
GCM employs a multi-portfolio manager approach to discretionary trading, allocating to a diverse roster of internal portfolio managers trading across a range of global markets. The firm does not impose a “house view” and allows its portfolio managers to establish their own views within their trading mandate and the firm’s disciplined risk management infrastructure. Portfolio managers trade tactically and may be macro-oriented, following numerous markets at any given time, or specialized within a single sector or trading style in order to capitalize on niche trading opportunities.
Past performance is not necessarily indicative of future results. The potential for profit is accompanied by the risk of loss.
GCM’s Investment Committee is responsible for the oversight of the firm’s portfolios and manages a thorough process for vetting discretionary and quantitative investment strategies. Investment Committee members manage and oversee the various departments within the firm. The Investment Committee meets formally each month to determine portfolio allocations and meets throughout each month as necessary to discuss ongoing issues that may arise.
The members of the Investment Committee are also members of the firm’s Risk Committee, which meets daily to review position-level information and related risks for each of the firm’s strategies within the context of prevailing market conditions.
The firm’s Compliance Committee reviews all compliance-related issues that require firm-wide cooperation, including trading efficiency and best execution and policies and procedures detailed in the firm's Compliance Manual and Code of Ethics. The members of this committee are also members of GCM’s Valuation Committee, which is responsible for reviewing any deviations from GCM’s valuation and pricing policies.