Baby-Faced Hedgie Launches Global Macro Fund

May 20 2010 | 2:25pm ET

A 24-year-old former analyst for Pharos Capital Group has decided to leave the confines of private equity for the hedge fund industry.

Alejandro Paschalides in March launched the Carina Capital Fund I, a global macro vehicle specializing in the energy sector. Paschalides said that the mispricings there were so great that he could not resist the opportunity to launch a hedge fund.

“I noticed that there was a variety of financial instruments and securities that were mispriced,” he said. “There are thinly-traded products, including the volume on long-dated crude oil futures relative to short-dated contracts, where the spread between prices several years out is very small relative to near dated contracts that no one is really looking at so I’m trying to take advantage of that.”

The hedgie rookie said his month-to-date returns are comparable to the precipitous fall of the energy sector in past months. Oil prices hit a seven-month low yesterday and the price of crude for June delivery fell $1.51 to $67.90 a barrel in intra-day trade this morning.

Aside from a down market for energy investors, Paschalides said his age and relative inexperience as a hedge fund manager are also big hurdles to overcome as far as fundraising goes, but he is optimistic that over the next year or so his returns will speak for themselves.

“Age is just a number, but returns are numbers as well and I think investors are smart enough to know which one matters more,” he said.

The Carina Fund has a two-year lockup provision, charges a 2% management fee and a 20% incentive fee, and has $250,000 minimum investment requirement.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note