Sunday, 28 December 2014
Last updated 3 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.