Clearwater Launches Multi-Strategy Hedge Fund

Jan 13 2006 | 8:34pm ET

Clearwater Asset Management has launched a multi-strategy hedge fund that combines its domestic active long/short strategy and its global long/short strategy, which is focused on emerging Asian economies.

Clearwater Capital Partners II will be managed by Jamie Atkins, ceo and cio of the firm. He aims to raise $300 million for the fund this year and already has received commitments from two institutional clients.

The multi-strategy hedge fund will be marketed by Joe Nodarse, a third-party marketer recently hired by the firm. Nodarse, previously head of U.S. institutional marketing at London & Capital Investment Advisors, is reopening Hudson Riley Asset Counsel, a marketing firm he operated from 1999 until taking the job with London & Capital in early 2005.

In an interview, Nodarse said he is looking for private equity, venture capital, hedge fund and fund-of-hedge funds firms to add as clients. Ultimately, he hopes to have 5-7 clients.

Nodarse's previous clients include Kenmont Capital Partners, Reserve Capital Partners and Trivest Partners.


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