Sunday, 26 April 2015
Last updated 1 day ago
Jun 22 2010 | 12:03pm ET
A Seattle-area hedge fund has launched a small-cap financials fund.
Bortel Investments’ financials vehicle debuted on May 6 with $7 million. While that’s not very much money, Bortel founder Peter Bortel said he doesn’t expect it to get all that much bigger, with a target of $30 million.
“Unless you’re really putting the pedal to the gas, you can’t make 30 times,” he told HedgeFund.net.
Bortel said he expects the fund to profit from a rebound in the financial sector over the next five to seven years.
The Gig Harbor, Wash.-based fund currently charges only a 2% maintenance fee. That is set to fall to 1% after Bortel, who serves as portfolio manager, establishes a track record and imposes a 20% performance fee. There is a $250,000 minimum investment. JPMorgan Chase is its prime broker, and Conifer Securities is its administrator.
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…