Friday, 19 September 2014
Last updated 7 hours ago
Oct 25 2010 | 2:05am ET
New York-based Midsummer Capital has launched a new fund employing the more liquid strategies of its flagship.
Midsummer Small-Cap is designed to appeal to investors "looking for liquid investments" following the financial crisis, Midsummer founder Michel Ansalem said at an emerging managers conference in Texas this month.
The new long/short vehicle debuted on Oct. 1 and features a concentrated core portfolio of 10 to 12 U.S.-listed long positions, each comprising 4% to 7% of the portfolio, HFMWeek reports. It will have a similar number of smaller long bets, each amounting to 2% to 3% of the portfolio, and between 20 and 30 short positions of between 1% and 2% each.
By contrast, the firm's flagship Midsummer Partners Fund also includes illiquid investments, including convertible bonds.
Midsummer is marketing the new vehicle to high-net worth individuals, private banks and family offices. It has a $700 million capacity; the minimum investment is $500,000. The Small-Cap fund charges 2% for management and 20% for performance and features quarterly redemptions with 60 days' notice. Citigroup serves as prime broker.
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…
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