Hedge fund SkyTop Capital Management has launched a special situations and opportunistic hedge fund backed by the Tisch family.
Troubled fund of hedge funds shop Pacific Alternative Asset Management plans to invest $75 million in the new SkyTop Fund, which launched last month. The fund has also been seeded by the Tischs with $25 million, HFMWeek reports.
SkyTop is structured as a managed account platform.
SkyTop co-founder and portfolio manager Dan Sobol formerly managed money for the Tischs at Loews Corp., the Tisch family’s holding company and former parent of the movie theater chain. The firm’s co-founder and president, Lisa Hess, is the former chief investment officer at Loews.