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Guggenheim Partners
Guggenheim Partners
from Wikipedia

Guggenheim Partners, Inc is a global investment and advisory financial services firm headquartered in New York City that engages in investment banking, asset management, capital markets services, and insurance services. Guggenheim has approximately 2,000 employees. The firm has additional offices in Chicago, London, Los Angeles, and San Francisco. It facilitates deals in many financial and industrial sectors.

Key Information

Organization

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Guggenheim Partners was founded in 1999 in partnership with the Guggenheim family. Headquartered in Midtown Manhattan, it has more than US$330 billion of assets under management.[1] The firm's CEO is Mark Walter.

Guggenheim Partners provides a broad range of services across asset management and investment banking. Guggenheim Investment Advisors oversees about $50 billion in assets.[2][3]

Business

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Background

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Guggenheim advises clients on mergers and acquisitions, financial restructuring, capital structure and capital raising, and on other strategic and financial transactions. The firm advises corporate clients, family offices, governments, and special committees of Boards of Directors. The firm’s transactions range across industries including consumer and retail, energy, financial institutions, healthcare, industrials, technology, and media and telecommunications.[4]

Advisory

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In October 2009, Guggenheim hired former J.P. Morgan head of Media Investment Banking Mark Van Lith as Senior Managing Director and Head of Investment Banking and former Apollo Global Management director and vice chairman Henry Silverman as vice chairman of asset management.[5]

In January 2013, Guggenheim named former Yahoo! interim CEO Ross Levinsohn as CEO of private equity unit Guggenheim Digital Media.[6]

In May and June 2013, the firm also hired Goldman Sachs Group Inc.'s co-head of U.S. leveraged finance capital markets Tom Stein, former Barclays head of retail investment banking and vice chairman Andrew Taussig, as well as managing directors Spencer Hart, Matthew Pilla, Ken Harada and Ryan Mash.[7]

In September 2013, Guggenheim Securities was named a financial adviser to Verizon in connection with its $130 billion acquisition of Vodafone's 45% stake in Verizon Wireless.[8]

In March 2014, Guggenheim Securities hired Eric Mandl as a Senior Managing Director focusing on Technology, Media and Telecom Investment Banking.[9] In June 2016, they hired Joel Foote as a Senior Managing Director focusing on Energy Investment Banking.[10]

On December 17, 2015, it was reported that the company would spin out its media properties into a new holding company, Eldridge Industries, owned by an investment group led by Guggenheim president Todd Boehly, consisting of Mediabistro, Billboard and The Hollywood Reporter, and Dick Clark Productions.[11][12]

In April 2018, Invesco Ltd. announced that it completed its previously announced acquisition of Guggenheim Investments' exchange-traded funds (ETF) business, which consisted of $38.8 billion of assets under management (as of February 28, 2018) for $1.2 billion in cash.[13]

In October 2018, Guggenheim Securities was named the lead financial adviser to Red Hat in connection with its $34 billion sale to IBM.[14] The Red Hat sale was, at the time, the largest software transaction in history.[15]

In September 2019, Donini was named to the additional role of Chief Operating Officer of Guggenheim Partners and Andrew Rosenfield, a managing partner, was appointed president.[16] Also in September 2019, Guggenheim hired former Deputy United States Attorney and Director of the Division of Enforcement of the Securities and Exchange Commission Robert S. Khuzami as a Managing Partner and Chief Legal Officer. In the private sector Khuzami was a partner at Kirkland & Ellis LLP and worked at Deutsche Bank AG, including as General Counsel for the Americas.[17]

Guggenheim was a financial advisor to the Directors of Gilead Sciences during the acquisition of CymaBay for $32.50 per share in cash or a total equity value of $4.3 billion in February 2024.[18] They were also advisor to Insight Sourcing in their sale to Accenture earlier that year.[19]

In September 2023, Guggenheim was the co-manager for the initial public offering of Arm Holdings, a portfolio company of the Softbank Group at a valuation of $4.87 billion.[20]

In November 2024, the firm was retained by American sandwich chain Jersey Mike's Subs as lead advisor on their sale to Blackstone.[21] This deal was valued at approximately $8 billion.

In January 2025, Guggenheim advised Major League Baseball (MLB) in its $9 billion debt restructuring deal in connection with Main Street Sports Group.

The firm's restructuring team offers services that include advising companies, governments, creditors, and financial sponsors on distressed M&A, recapitalizations, reorganizations, exchange offers, debt repurchases and capital raises across industries such as automotive, consumer products, energy, financial institutions, healthcare, real estate, gaming & leisure, manufacturing, media & communications, retail, shipping, steel and transportation.

The firm competes with all investment banks that provide strategic advisory services. Main competitors include other leading independent advisory firms such as Centerview, Hamilton Lane, Evercore, Greenhill & Co., Moelis & Company, Lazard, and Perella Weinberg Partners.[22]

Investments

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In May 2009, Guggenheim Partners acquired a controlling interest in financial services firm Transparent Value LLC.[23] In July 2009, it acquired Claymore Group, a firm known for its Exchange-traded funds and unit investment trusts.[24] In December 2009, Guggenheim acquired a division of Wellmark and renamed it Guggenheim Life & Annuity.[25] In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds.[26] In October 2011, it acquired the life insurance company EquiTrust from FBL Financial Group.[27] In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial.[28][29]

In July 2014, Guggenheim announced the launch of a representative office in Tokyo and the hiring of Atsuhito Sakai as Senior Managing Director and Guggenheim's Representative in Japan.[30] Also in 2014, the firm acquired the London operations of Lazard Capital Markets.[31] Guggenheim Securities expanded its investment banking business in July 2019 in Chicago with the hiring of two senior bankers from William Blair's technology group, James Suprenant and Scott Stevens.[32]

That September, Guggenheim bought a stake in the entertainment production company Dick Clark Productions,[33] which produces specials such as the American Music Awards and the Golden Globe Awards and other television programming.

In January 2013, the company bought out the remainder of the business-to-business media company Prometheus Global Media[34][35] and acquired CardCash in November of the same year.[citation needed] In February 2014, Guggenheim Partners acquired the Los Angeles Sparks of the WNBA.[36]

In November 2021, it was reported that Guggenheim Investments, alongside the actor Channing Tatum and fellow investment company Endeavor, had agreed to backstop the planned $1 billion merger between Los Angeles-based blank-check firm Bright Lights and Manscaped.[37]

See also

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References

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Revisions and contributorsEdit on WikipediaRead on Wikipedia
from Grokipedia
Guggenheim Partners is a privately held global investment and advisory firm founded in 1999 by Peter Lawson-Johnston II—a great-grandson of —along with , J. Todd Morley, and Dominic Curcio, drawing on the Guggenheim family's legacy in business and dating back to the late . Headquartered in New York and , the firm operates more than 25 offices across nine countries and employs approximately 2,300 professionals worldwide. As of September 30, 2025, Guggenheim Partners manages over $350 billion in assets under management, including approximately $111 billion in assets under supervision through consulting services. The firm provides a range of diversified , primarily through its core businesses: Guggenheim Investments, which focuses on strategies in , equities, and alternatives; Guggenheim Securities, an independent investment bank offering advisory, financing, and capital markets solutions; and services via its affiliate Group 1001. Under the of CEO Mark R. Walter and a of managing partners, Guggenheim Partners emphasizes a client-centric approach guided by six core values—, , Excellence, Talent, , and —rooted in the Guggenheim family's historical principles of innovation and long-term value creation. Guggenheim Partners has built a reputation for delivering tailored solutions to governments, institutions, corporations, and high-net-worth individuals, with notable expertise in (over $1.7 trillion in announced deals), financing transactions (exceeding $480 billion), and through subsidiaries like Guggenheim Retail Real Estate Partners. The firm's growth reflects its commitment to diversity, inclusion, and sustainable practices, positioning it as a key player in addressing complex financial challenges in evolving global markets.

History

Origins and Founding

The Guggenheim family's business origins trace back to the late 19th century, when Meyer Guggenheim, a Swiss immigrant who arrived in 1847, established a foundation in , , and resource extraction. Initially operating an import business in selling Swiss embroidery, Meyer shifted focus in 1881 by investing $5,000 in lead and silver mines in , marking the entry into the metals industry. By involving his seven sons—, Daniel, Murry, , Simon, Benjamin, and William—Meyer formed Guggenheim Brothers, a family enterprise that expanded globally, acquiring mines in , , and , and controlling significant operations. This venture culminated in the 1901 creation of the American Smelting and Refining Company (), in which the family held a , amassing significant wealth upon Meyer's death in 1905. Following , the divested its industrial holdings, including selling major stakes in by the 1920s, to preserve and manage their wealth amid shifting economic landscapes. This transition redirected family efforts toward —exemplified by Solomon R. Guggenheim's art foundations—and diversified investments, emphasizing long-term capital preservation over industrial risks. The principles of prudent stewardship and value creation from this era profoundly influenced subsequent financial endeavors, bridging the family's industrial legacy to modern services. Guggenheim Partners was established in 1999 as a wealth management entity, drawing on the Guggenheim family name and heritage under the leadership of Peter Lawson-Johnston II, a great-grandson of Solomon R. Guggenheim, in partnership with Mark Walter, J. Todd Morley, Dominic Curcio, and other investors. Initially focused on high-net-worth clients, the firm was created to apply the family's historical principles of innovation and reliability to contemporary financial needs. Its early mission centered on delivering diversified financial services aimed at sustainable capital growth, positioning it as a steward of enduring wealth in an evolving global market.

Key Milestones and Acquisitions

In 2009, Guggenheim Partners acquired a controlling 60% stake in Transparent Value LLC, a financial services firm specializing in quantitative equity research and stock analysis, to enhance its research capabilities and integrate advanced valuation tools into its investment processes. Later that year, in July, the firm completed the acquisition of Claymore Group, an ETF and structured products provider managing approximately $2.4 billion in assets, which broadened Guggenheim's offerings in exchange-traded funds and alternative investment vehicles. Also in 2009, in June, the firm hired Alan Schwartz, former CEO of Bear Stearns, as executive chairman, bringing his extensive advisory expertise to bolster Guggenheim's investment banking and mergers-and-acquisitions capabilities during a period of industry consolidation. Guggenheim entered the insurance sector that year by partnering with Security Benefit Corporation, initially as its investment advisor for the general account, before acquiring the company in February 2010 in a deal led by Guggenheim and investors that injected about $400 million to strengthen its financial position and integrate Rydex Funds. By the mid-2010s, Guggenheim had significantly scaled its operations, with assets under management growing from less than $10 billion in the early 2000s to over $350 billion by 2025, driven by organic expansion and strategic integrations from prior acquisitions. In 2013, the firm expanded its and investment platform, enhancing its capabilities in commercial financing and debt strategies to capitalize on recovering markets. International growth accelerated in the mid-2010s, including the establishment of a in in 2014 to conduct market research and later commence full operations in 2015, alongside offices in and that supported global client servicing and cross-border deals. Subsequent milestones included the 2024 divestiture of its actively managed equity funds business to Alpha and serving as advisor to on a $9 billion in January 2025. These developments solidified Guggenheim's position as a diversified global provider.

Organization and Leadership

Corporate Structure

Guggenheim Partners is a privately held global investment and advisory firm, privately held by its partners, drawing on the Guggenheim family's legacy. The firm is headquartered in New York and , with offices at 330 in and 227 West Monroe Street in , and employs more than 2,200 professionals worldwide. The corporate structure is organized into key divisions that reflect its diversified operations. Guggenheim Investments serves as the primary and advisory arm, overseeing strategies in , equities, and alternatives. Guggenheim Securities functions as the and capital markets division, focusing on strategic advisory and financing solutions. Specialized units include Guggenheim Retail Real Estate Partners, which handles commercial and financing, and Guggenheim Wealth Solutions, LLC, which provides customized services for high-net-worth clients. Guggenheim Partners maintains a global footprint with more than 25 offices across nine countries, enabling it to serve institutional and individual clients internationally. Key hubs include and in the United States, in the , and operations in (), (), and and Bangalore (), among others in and . Governance at Guggenheim Partners is directed by an executive leadership team that establishes strategic oversight, with reporting lines flowing from divisional heads to . The firm employs a for high-level supervision, including dedicated committees focused on , compliance, and to identify and mitigate operational and market risks across its activities.

Executive Leadership

Mark R. Walter serves as the of Guggenheim Partners, overseeing the firm's overall operations and strategic direction. He co-founded the firm in 1999 and has led its growth into a global organization managing over $350 billion in assets as of September 2025. Walter is recognized for his involvement in high-profile sports investments, which align with the firm's emphasis on diversified opportunities. Alan D. Schwartz is the Executive Chairman, focusing on strategic advisory and governance matters. He joined Guggenheim Partners in 2009 following his tenure as CEO of , bringing extensive experience in and capital markets to guide the firm's executive decisions. Fares D. Noujaim acts as Co-Chairman of Guggenheim Securities, the firm's and capital markets division, where he leads efforts in advisory. Noujaim joined in 2014 and was elevated to this role in 2024, leveraging his prior experience as Executive Vice Chairman of Global Corporate Finance at another major firm. Among other key figures, Mark A. Van Lith serves as a Managing Partner and CEO of Guggenheim Securities, directing strategies across sectors. Van Lith joined in 2009 and was named a Managing Partner in 2021. Michael Richter, a Senior Managing Director, contributes to specialized advisory in and defense, having joined in 2025 to expand sector coverage. The executive leadership team, many of whom have been with the firm since its founding or early years, averages over 15 years of tenure, fostering stability and continuity. Influenced by the Guggenheim family's legacy, the leaders emphasize principles of , , and long-term value creation in driving the firm's culture and strategic priorities.

Business Activities

Asset Management

Guggenheim Investments, the asset management division of Guggenheim Partners, oversees approximately $249.1 billion in (AUM) and $108.2 billion in assets under supervision (AUS) as of September 30, 2025, resulting in total assets of approximately $357.3 billion. This scale positions the division as a significant player in global , serving a diverse client base that includes institutional investors such as funds and endowments, high-net-worth individuals through separately managed accounts (SMAs), and corporations seeking customized portfolio solutions. The division emphasizes generating risk-adjusted returns, as evidenced by Morningstar ratings for its strategies based on this metric. The division specializes in , equity, alternative investments, and multi-asset strategies, offering a range of products tailored to varying risk profiles and market conditions. Notable offerings include actively managed closed-end funds (CEFs), which provide access to unique strategies like enhanced equity and convertible securities, and exchange-traded funds (ETFs) focused on diversified portfolios for generation. Through strategic acquisitions, such as the 2015 purchase of Security Benefit Group, Guggenheim Investments has broadened its product suite to include annuities and enhanced solutions. Performance highlights in 2025 underscore the division's focus on navigating volatile markets; for instance, the Guggenheim Core Bond Fund (Institutional Class) delivered a 2.23% return in Q3 2025, outperforming its benchmark, the Bloomberg U.S. Aggregate Bond Index, which returned 1.78%. In floating rate strategies, the Guggenheim Floating Rate Strategies Fund (Institutional Class) returned 0.50% in the same period, reflecting a conservative positioning amid credit-specific challenges, though it trails the S&P Leveraged Loan Index. Since the 2010s, Guggenheim Investments has integrated environmental, social, and governance (ESG) factors into select portfolios, viewing them as essential for influencing long-term investment outcomes and aligning with client demands for sustainable strategies. This approach includes exclusions based on issuer activities and active ownership policies, as outlined in their ESG Integration Statement updated in 2025.

Investment Banking and Advisory

Guggenheim Securities serves as the and capital markets division of Guggenheim Partners, delivering a comprehensive suite of services that includes (M&A) advisory, and equity financing, and trading, and . This independent platform emphasizes strategic guidance for public and private companies, governments, and investors, with a particular focus on middle-market transactions such as restructurings, initial public offerings (IPOs), and private placements. The division's approach prioritizes tailored solutions and long-term client relationships, distinguishing it from larger bulge-bracket firms through its boutique-style execution. In capital markets, Guggenheim Securities excels in complex and equity offerings, including high-yield bonds and syndicated loans, to support issuer clients navigating challenging financing environments. The firm leverages its extensive network and sector expertise to facilitate these transactions, drawing on historical expansions that enhanced its distribution capabilities in and alternatives. Since its in 1999, Guggenheim Securities has facilitated over $1.7 trillion in announced M&A volume and more than $480 billion in financing transactions, underscoring its established track record in deal-making across diverse industries. Recent activity in 2025 highlights the division's engagement in key sectors like and healthcare. For instance, in 2025, Guggenheim Securities acted as financial advisor to on the sale of Middle River Power, an with approximately 1.9 gigawatts of capacity, demonstrating its role in deals. Concurrently, the firm expanded its healthcare practice by hiring Paul Hepper as a senior managing director in 2025. Separately, Guggenheim Securities formed a with Luminis Partners in February 2025 to enhance cross-border middle-market advisory capabilities. These initiatives reflect a client-centric focus on high-impact advisory amid evolving market dynamics.

Notable External Involvement

Sports Franchises

Guggenheim Partners maintains indirect involvement in through its CEO, , who leads ownership groups across multiple franchises. As the controlling owner of Major League Baseball's , Walter spearheaded the 2012 acquisition of the team by for $2.15 billion, marking a significant entry into investment. Walter also holds ownership stakes in the National Basketball Association's , where he became the majority owner in 2025 following a $10 billion deal, and the Women's National Basketball Association's , serving as a co-owner. In addition, he is a co-owner of English club , holding approximately 12.7% through the BlueCo consortium formed in 2022. Guggenheim Baseball Management plays a central role in the Dodgers' day-to-day operations, overseeing initiatives such as multimillion-dollar renovations to —including upgrades to clubhouses, concourses, and fan amenities completed before the 2025 season—and negotiating key media rights agreements that have boosted the franchise's revenue streams. These sports investments yield business synergies for Guggenheim Partners, including enhanced brand visibility through high-profile placements like the firm's logo on the Dodgers' patch, which generated $46.7 million in media value in . They also aid in talent recruitment by linking the firm to elite athletic achievements and create avenues for further investments in sports-related assets, such as content bundling and franchise expansions. The Dodgers' triumph in the 2025 World Series, defeating the Toronto Blue Jays in seven games, further elevated Guggenheim's public profile and underscored these strategic advantages.

Philanthropy and Community Engagement

Guggenheim Partners maintains strong ties to the Guggenheim Museum through its family heritage, serving as a corporate member that supports the institution's exhibitions, conservation projects, and education initiatives. The firm has provided funding for programs such as the Guggenheim Arts Education Program, which promotes learning through art in schools, aligning with the broader Guggenheim legacy in modern and contemporary art. The firm's corporate philanthropy is channeled primarily through the Network for Social Innovation (NSI), a venture philanthropy program launched in 2018 that invests in early-stage nonprofits to foster transformative social change. NSI provides $100,000 grants to selected organizations annually, with multiple cohorts supporting initiatives in areas like education and financial literacy; for instance, in 2020, it funded Upsolve, a nonprofit offering free bankruptcy assistance to low-income individuals facing financial distress. By 2022, the program had selected its fourth cohort, demonstrating a sustained commitment to scaling nonprofit impact in underserved communities. Community engagement efforts include pro bono advisory services, where Guggenheim's legal and financial experts assist nonprofits with strategic guidance and operational support. Launched in 2018, the Program enables attorneys in the firm's Department to dedicate time to causes such as access to justice, exemplified by recognition from the New York Legal Assistance Group for contributions to client services. Employee volunteerism is encouraged through programs like , which coordinates participation in local service projects, and benefits such as matching gifts and paid volunteer time off to support nonprofits in underserved areas. These activities reflect Guggenheim Partners' guiding principles of , , and stewardship, prioritizing long-term societal impact over short-term gains. In 2025, the firm emphasized diversity in by expanding recruitment programs for undergraduate students from underrepresented backgrounds, aiming to build inclusive pipelines into the industry. Additionally, Guggenheim formed a with the FII in October 2025 to collaborate on global impact summits, focusing on and for broader community benefit.

Controversies

In 2015, Guggenheim Partners, through its subsidiary Guggenheim Partners Investment Management LLC, agreed to pay a $20 million civil penalty to settle charges brought by the U.S. Securities and Exchange Commission (SEC) alleging undisclosed conflicts of interest in its advisory services. The settlement, which involved no admission of wrongdoing, stemmed from allegations that the firm failed to disclose a significant loan transaction that created potential conflicts for advisory clients. In 2024, Guggenheim Securities, LLC and Guggenheim Partners Investment Management, LLC agreed to pay a combined $15 million to settle SEC charges related to widespread failures to maintain and preserve required records of electronic communications, including off-channel text messages discussing business matters. The allegations involved employees at multiple levels using personal devices and unapproved methods, violating federal securities laws. The firms neither admitted nor denied the findings. In a separate New York state court proceeding, Guggenheim Securities, LLC sued Falcon's Beyond Global, LLC, seeking recovery of disputed transaction fees totaling approximately $11 million from a failed merger deal. The litigation, initiated in 2024 and continuing into 2025, centers on allegations that Falcon's breached an engagement agreement by not paying advisory fees upon the transaction's termination. Court decisions in 2025 have addressed motions for and sanctions, but the case has not reached a final resolution. Historically, Guggenheim entities faced minor fines from the (FINRA) during the for reporting errors in trading activities. For instance, in 2012, Guggenheim Securities was fined $800,000 for inadequate supervision of traders who attempted to conceal losses through unauthorized trades, highlighting early compliance gaps in trading oversight. These incidents involved no client harm but prompted required remedial training and procedural reviews. Following these regulatory actions and settlements, Guggenheim Partners implemented enhanced compliance measures. As part of the 2015 SEC settlement, the firm engaged an independent compliance consultant to review and improve its policies on conflict disclosures and code of ethics enforcement. The 2024 SEC settlement required retention of independent compliance consultants to assess and enhance policies and procedures related to the retention of electronic communications. These measures aimed to strengthen internal controls and supervisory systems across advisory and trading operations.

Public and Ethical Criticisms

In late 2025, Guggenheim Partners faced significant public backlash over its investment in , a major operator of Immigration and Customs Enforcement () detention centers. Following the ' victory in 2024, a Civic Action petition launched in early November garnered over 3,000 signatures from Californians, urging Dodgers controlling owner and Guggenheim CEO to divest the firm's 0.38% stake in , valued at approximately $12 million based on the company's $3.39 billion . Critics highlighted the ethical dissonance between Guggenheim's sports ownership and investments profiting from immigrant detention, particularly amid heightened activities. The firm's diversity, equity, and inclusion (DEI) initiatives also drew scrutiny in 2025, with America First Legal filing a federal civil rights complaint on June 30 against both Guggenheim Partners and the Dodgers, alleging discriminatory hiring practices based on race, color, and sex. The complaint claimed that DEI programs at the firm and its affiliated Dodgers organization violated civil rights laws by prioritizing protected characteristics in employment decisions. Broader ethical critiques have centered on potential conflicts arising from Guggenheim's sports franchise ownership, such as the Dodgers, influencing or clashing with investment strategies. Media reports in 2025 emphasized how these ties exacerbate public concerns, including backlash from Latino fans over the GEO investment's implications for immigrant communities, given the team's diverse Los Angeles fanbase. As of November 2025, Guggenheim Partners had not issued a specific public response to the GEO petition or announced any , though the firm maintains a general commitment to integrating environmental, social, and governance (ESG) factors into its investment processes. The controversies contributed to heightened media scrutiny and reputational challenges, amplifying debates on ethical alignment in and ownership.

References

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