Tuesday, 28 April 2015
Last updated 1 hour 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.
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…