Wednesday, 6 May 2015
Last updated 22 sec ago
Apr 12 2010 | 8:03am ET
Boston-based Moody Aldrich Partners has launched a hedge fund seeding operation, hiring a Weston Capital Management co-founder to lead it.
Christopher Kelley is charged with launching a new seeding fund “with private equity characteristics.” Moody Aldrich hopes to raise between $150 million and $200 million to seed five or six firms over the next year-and-a-half.
“Through partnerships with talented alternative money managers, this seeding program will enhance our firm’s product offering and provide exposure to the growing alternative segment of the market,” Eli Kent, principal of Moody Aldrich, which manages $850 million in long-only strategies, said.
Kelley established and oversaw Weston’s hedge fund seeding business before leaving the firm two years ago. He previously headed private equity firm Value Asset Management and served as a general partner at p.e fund Olympus.
For his part, Kelley notes that “hedge fund inflows are increasing for the first time in two years. There are many top hedge fund teams that have left or are leaving larger companies to build their own firms in the currently robust equity markets.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…