The PrivateBank has chosen Guggenheim Investment Advisory’s alternatives platform as its primary hedge fund platform provider.

Guggenheim will provide the bank with information and tools to invest in hedge funds on behalf of its clients. The platform provides access to a group of hedge funds which has been selected by the firm, alongside portfolio construction tools and streamlined implementation.

“This partnership reinforces our business model and its value to the wealth management community,” said Michael Christ, head of Guggenheim Investment Advisory.

Guggenheim’s process vets the universe of some 10,000 hedge funds then selects the ones it believes are the best, with a high-conviction approach. It then continues to monitor them while they are on its platform.

The PrivateBank, part of PrivateBancorp, provides business and personal financial services to middle-market companies, business owners, executives and families. It has 35 offices in ten states.

Guggenheim Partners is a privately-held financial services firm with around $170 billion in assets under management, as at December 31, 2012.