Thursday, 28 August 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...