Guggenheim Absorbs Rydex

“Over the years we have strategically grown our investment management capabilities both organically and through acquisition,” commented Todd Boehly, president of Guggenheim Partners and head of Guggenheim Investments. “Every step of this process was guided by a desire to provide our clients with a wide array of innovative investment solutions to help achieve their financial goals. Guggenheim Investments is the next logical step in this disciplined and thoughtful approach to building our asset management business for the long term.”

Guggenheim was founded in 2000 and began as an investment management firm for the Guggenheim family. The company made a name for itself among institutional investors for its expertise in fixed income. In 2009, Guggenheim acquired Claymore Group, an ETF provider with $1.6 billion in assets. Last year, the New York-based company led a group of investors last year that bought Security Benefit, Rydex SGI’s parent company.