Friday, 1 July 2016
Last updated 33 min ago
Jul 7 2010 | 1:14pm ET
Energy and utilities hedge fund Copia Capital has completed its spin-off from FrontPoint Partners, the Chicago-based firm said today.
The newly-independent Copia boasts some $520 million in assets under management. Despite its split from the Morgan Stanley-owned hedge fund, FrontPoint will remain a strategic investment with Copia, and Copia will continue to manage money on FrontPoint’s behalf. Copia debuted in early 2002, and six months later began serving as an investment adviser to FrontPoint.
According to Copia, the move broadens equity ownership among the firm’s partners.
"Now is an opportune time for Copia to launch as an institutional-quality investment advisor,” said Tim Flannery, managing partner and founder. “We believe the rapidly changing energy regulatory environment, structural and technological developments and sector inefficiencies will create unprecedented investment opportunities from which Copia’s investors can profit.”