Tuesday, 21 October 2014
Last updated 3 hours ago
Jul 28 2010 | 9:25am ET
Hedge fund seeding firm FRM Capital Advisors has made a "significant investment" in Varna Capital's first fund, which is expected to launch in the fourth quarter.
Varna is a newly formed hedge fund manager based in New York and headed by Svetlana Lee. Lee, together with the Varna team, previously managed an equity long-short fund at Citadel’s PioneerPath new manager platform. Prior to that she gained extensive investment experience at leading hedge funds Greenlight Capital, The Baupost Group and Perry Capital.
“A firm’s anchor investors are a critical element to a successful launch," said Lee, managing principal and portfolio manager of Varna. "FCA is a well respected institutional firm and its significant day one investment will provide us with a strong foundation to launch and grow.”
Varna will employ a value-focused, equity long-short strategy that seeks to exploit event-driven situations, structural market dislocations and identify hidden fundamental business value.
Clive Peggram, CEO of FCA, said, “We believe that the current market is an attractive environment for this strategy and the prospects will remain strong for the foreseeable future. Svetlana is one of the most talented new equity long-short managers in the industry and we are very pleased to form a strategic relationship with her new firm and to support its development.”
Varna represents FCA’s sixth strategic investment since it began investing in 2008. FCA is a division of Financial Risk Management, a global fund of hedge funds group managing approximately $8.5 billion worldwide for institutional and other sophisticated investors.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...