The former co-head of Goldman Sachs’ former top hedge fund will launch his own new fund next month, two months before beginning to manage money for outsiders.
Mark Carhart, the former co-manager of Goldman’s Global Alpha fund, founded Kepos Capital last year. The firm’s Kepos Alpha Fund will begin trading next month with partner capital, according to Reuters, and will begin managing outside money in January.
The New York-based firm already boasts a team of 27, including Giorgio de Santis, who was co-head of research at Goldman’s quantitative investment group and who left the firm along with Carhart and his Global Alpha co-chief, Raymond Iwanowski, last April. Iwanowski is not part of Kepos and is mulling a return of his own to the hedge fund industry.
Carhart hopes to raise as much as $1 billion for the new fund, and has put in place a series of measures to reassure investors who might be spooked by Global Alpha’s downturn in 2007. Kepos boasts a six-member academic risk panel, headed by the former chairman of Goldman’s quant. group. Investors will face a one-year lockup, followed by quarterly liquidity.