Difference between revisions of "Marshall Wace"
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| − | Hedge fund [[Marshall Wace]] was co-founded by Liberal Democrat | + | Hedge fund [[Marshall Wace]] was co-founded by Liberal Democrat [[Paul Marshall]], in 1997 with [[Ian Wace]].<ref>Nic Fildes, [http://business.timesonline.co.uk/tol/business/movers_and_shakers/article6969043.ece Paul Marshall of Marshall Wace], ''The Times'', 28 December 2009.</ref> |
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| + | ==Education investments== | ||
| + | According to an article in the ''London Review of Books'' in September 2016: | ||
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| + | :'Paul Marshall’s hedge fund has a diverse portfolio – pharmaceuticals, IT, healthcare, retail - but education is a significant part of it. | ||
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| + | :Marshall Wace currently has positions in [[Pearson]] PLC and the [[Scholastic]] Corporation, and last year it formed a ‘long-term partnership’ with the American private equity firm [[KKR]], which is heavily involved at the cutting edge of the education business. KKR has big stakes in [[Cognita]], a chain of private schools, and [[Laureate Education]], which runs more than eighty for-profit colleges around the world. It also invests in [[Tarena International]], ‘an innovative education platform combining live-distance instruction, classroom-based tutoring and online learning modules’ for students in China.'<ref>Matthew Bennett, [http://www.lrb.co.uk/v38/n18/matthew-bennett/ed-tech-biz Ed Tech Biz], London Review of Books, 22 September 2016</ref> | ||
==History== | ==History== | ||
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Paul Marshall stepped back from his investment role in the company in 2004, but resumed it after the 2008 financial crisis. The ''Times'' reported in 2009 that his return had boosted the company's profits: | Paul Marshall stepped back from his investment role in the company in 2004, but resumed it after the 2008 financial crisis. The ''Times'' reported in 2009 that his return had boosted the company's profits: | ||
| − | ::It is understood that Mr Marshall will be the highest-paid director, although the allocation of the bonus pool has yet to be confirmed. It would further boost his personal fortune, which is estimated to be well over £200 million, and help to restore his image as being one of the most powerful men in the City.<ref>Nic Fildes, [http://business.timesonline.co.uk/tol/business/movers_and_shakers/article6969043.ece Paul Marshall of Marshall Wace], The Times, 28 December 2009.</ref> | + | ::It is understood that Mr Marshall will be the highest-paid director, although the allocation of the bonus pool has yet to be confirmed. It would further boost his personal fortune, which is estimated to be well over £200 million, and help to restore his image as being one of the most powerful men in the City.<ref>Nic Fildes, [http://business.timesonline.co.uk/tol/business/movers_and_shakers/article6969043.ece Paul Marshall of Marshall Wace], ''The Times'', 28 December 2009.</ref> |
==Revolving door access== | ==Revolving door access== | ||
| − | Co-founder Marshall | + | Co-founder Marshall was a lead non-executive board member at the UK [[Department for Education]], among other roles<ref>Louise Armistead, [http://www.telegraph.co.uk/finance/economics/7716651/George-Osbornes-Treasury-team-the-power-behind-the-coalition-government.html George Osborne's Treasury team - the power behind the coalition government], telegraph.co.uk, 13 May 2010.</ref> |
| − | + | Wace is also a co-founder of [[Ark]] schools, an influential player in UK education reform circles, and co-edited ''The Orange Book'' with former education minister [[David Laws]].<ref>Louise Armistead, [http://www.telegraph.co.uk/finance/economics/7716651/George-Osbornes-Treasury-team-the-power-behind-the-coalition-government.html George Osborne's Treasury team - the power behind the coalition government], telegraph.co.uk, 13 May 2010.</ref> | |
==Notes== | ==Notes== | ||
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[[Category:UK]] | [[Category:UK]] | ||
| − | [[Category:Revolving | + | [[Category:Revolving Door]] |
Latest revision as of 12:36, 21 January 2020
Hedge fund Marshall Wace was co-founded by Liberal Democrat Paul Marshall, in 1997 with Ian Wace.[1]
Education investments
According to an article in the London Review of Books in September 2016:
- 'Paul Marshall’s hedge fund has a diverse portfolio – pharmaceuticals, IT, healthcare, retail - but education is a significant part of it.
- Marshall Wace currently has positions in Pearson PLC and the Scholastic Corporation, and last year it formed a ‘long-term partnership’ with the American private equity firm KKR, which is heavily involved at the cutting edge of the education business. KKR has big stakes in Cognita, a chain of private schools, and Laureate Education, which runs more than eighty for-profit colleges around the world. It also invests in Tarena International, ‘an innovative education platform combining live-distance instruction, classroom-based tutoring and online learning modules’ for students in China.'[2]
History
George Soros provided more than half of the company's initial $60 million financing. Later, the bulk of funding would come from institutional investors.[3]
Paul Marshall stepped back from his investment role in the company in 2004, but resumed it after the 2008 financial crisis. The Times reported in 2009 that his return had boosted the company's profits:
- It is understood that Mr Marshall will be the highest-paid director, although the allocation of the bonus pool has yet to be confirmed. It would further boost his personal fortune, which is estimated to be well over £200 million, and help to restore his image as being one of the most powerful men in the City.[4]
Revolving door access
Co-founder Marshall was a lead non-executive board member at the UK Department for Education, among other roles[5]
Wace is also a co-founder of Ark schools, an influential player in UK education reform circles, and co-edited The Orange Book with former education minister David Laws.[6]
Notes
- ↑ Nic Fildes, Paul Marshall of Marshall Wace, The Times, 28 December 2009.
- ↑ Matthew Bennett, Ed Tech Biz, London Review of Books, 22 September 2016
- ↑ Barry Cohen, The Return of Paul Marshall, 1 October 2009.
- ↑ Nic Fildes, Paul Marshall of Marshall Wace, The Times, 28 December 2009.
- ↑ Louise Armistead, George Osborne's Treasury team - the power behind the coalition government, telegraph.co.uk, 13 May 2010.
- ↑ Louise Armistead, George Osborne's Treasury team - the power behind the coalition government, telegraph.co.uk, 13 May 2010.
