FRM Capital Advisors Seeds Woman-Owned Hedge Fund

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. 


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note