Lighthouse Takes Shine to 361 Capital

Palm Beach Gardens, Fl.-based Lighthouse Partners, a fund-of-hedge-funds and managed account investment adviser, has taken a minority stake in 361 Capital, a Denver-based provider of alternative investment mutual funds, separate accounts, and limited partnerships to institutions, financial intermediaries, and high-net-worth investors.

The firms will operate independently.

In a statement, Brian Cunningham, 361 Capital's President and CIO, said his firm expects to leverage Lighthouse's expertise in creating alternative investment products to expand the firm's lineup of liquid alternative investment vehicles.

"We're absolutely committed to providing our clients with a full suite of what we believe are well-engineered liquid alternative investment products," said Cunningham.

Lighthouse's portfilio currently include a full range of hedge fund strategies, including equities, credit, managed futures, and Asian region investments. The firm currently manages approximately $6 billion in assets.

SEC to Spend $150M on EDGAR, Systems

Securities and Exchange Commission chairman Mary L. Schapiro told a financial services subcommittee of the House of Representatives that the federal regulator intends to spend $100 million of its $1.6 billion requested budget for fiscal 2013 on information systems and another $50 million on modernizing the EDGAR stock information database and, its public web site.

This level of funding would enable the Office of Information Technology to dedicate adequate resources to new or ongoing projects in areas such as data management, integration and analysis; document management; disclosure review; and internal accounting and financial reporting, she said.

Additionally, the SEC would use the funds to continue multi-year initiatives to improve the enforcement and examinations programs' capabilities to intake and process thousands of tips, complaints, and referrals received annually, as well as massive amounts of electronic evidence.

The SEC also plans to make additional investments in electronic discovery, its forensics laboratory, and reporting tools.

As part of its effort to improve its technology, the SEC also intends to use the Reserve Fund established by the Dodd-Frank Act to address other multi-year technology initiatives.

BlackRock Seals Claymore Deal

It's official: BlackRock said it has completed its acquisition of the Toronto-based Claymore Investments, Inc.

The deal received security holder approval earlier this month. Its terms were not disclosed.

BlackRock entered into a definitive agreement with subsidiaries of Guggenheim Partners to buy all of Guggenheim's interest in Claymore in January. Claymore operates 34 ETFs and two closed-end funds, with $6.9 billion in assets under management as of December 31, across broad asset classes, including core equity, global sectors, fixed income and commodities.

Claymore's 34 exchange-traded products will be combined with the 48 Canadian ETFs, representing $29 billion assets under management, that BlackRock currently offers via its iShares brand.

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