Wednesday, 23 July 2014
Last updated 6 hours ago
May 14 2010 | 1:17am ET
A pair of HHR Asset Management veterans is set to launch their own hedge fund in July.
Alloy Capital will soft-launch its eponymous maiden fund with $50 million ahead of a hard-launch in November. The fund, the brainchild of former HHR analysts Katie Procter and Dale Geurts, was seeded by HHR founder Edward Hintz, HFMWeek reports.
The New York-based firm will have a portfolio of between 20 and 40 long bets and between 15 and 80 shorts. About two-thirds of its assets will be invested in the U.S. The Alloy Fund will not have a specific sector or style focus.
“We have come together to combine a fundamental research-driven process with a constant awareness of macro economic conditions to balance our twin goals of capital preservation and fund performance,” Procter, the fund’s manager, said.
Alloy will charge 1.5% for management and 20% for performance. There will be a $1 million minimum investment, with quarterly liquidity.
UBS will serve as the fund’s prime broker.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…