Newly-founded California technology, media and telecommunications hedge fund Thompson Peak Capital has opened its maiden hedge fund to outside investors.
The fund, which Thompson Peak has been running since the beginning of the year, currently has $50 million in assets, HFMWeek reports. It hopes initially to raise $500 million, half of its $1 billion capacity.
Basso Capital and Morgan Stanley veteran Gustavo Miguel serves as portfolio manager of the fund, which invests exclusively in U.S. companies and has between 15 and 20 positions. The fund charges 2% for management and 20% for performance and features a $1 million minimum investment requirement. Deutsche Bank serves as prime broker.
Thompson Peak was founded by Miguel and two others: David Siminoff, formerly of Capital Research and Management, and Michael Hourigan, formerly of Morgan Stanley's mergers and acquisitions group. Siminoff serves as chief investment officer. In addition, to coincide with the fund's public launch, the firm has recently hired a director of business development, Matthew Michelsen.