On September 12, 2014, Ada Investment Management LP announced that an affiliate of XL Group plc (NYSE: XL) had acquired a minority stake.
in Ada and has made a capital commitment to the firm’s flagship global equity market neutral strategy, which focuses on delivering differentiated returns characterized by low correlations to major market indices and other fund managers. Ada is a research-driven investment manager offering alternative equities-based investment programs to institutional investors. Ada, which was founded by former professor of the Whartson School of Business, Dr. Vinay Nair, grew from Dr. Vinair’s academic investigations and itilizes behavioral insights to identify and test return drivers in equity markets through systematic application of proprietary research. XL is a global insurance and reinsurance company providing property, casualty, and specialty products to industrial, commercial, and professional firms.
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