StormHarbour Buys UK's Fortrinn Partners, Expands Alternatives Business

Nov 18 2010 | 7:20am ET

Financial advisory firm StormHarbour Partners will acquire London-based volatility trading specialist Fortrinn Partners as part of a move to expand its alternative asset management business.

StormHarbour was founded last year by former Citigroup Inc. executives Antonio Cacorino and Frederick Chapey. The Fortrinn acquisition is StormHarbour’s first in Europe

Fortrinn was founded by CEO Keith DeCarlucci, formerly of MKM Longboat, and Antonis Giannopoulos. The company manages the Fortrinn Convexity Fund, which is designed to benefit from markets risk re-pricing.
DeCarlucci will continue to manage the Convexity Fund, while joining the executive committee of what will become StormHarbour Alternative Investments (SHAI) subject to FSA approval.

DeCarlucci said: “There are many opportunities in the market for volatility trading strategies and we firmly believe that our ability to capitalise on these opportunities will be enhanced by StormHarbour’s support and resources. Antonis and I will continue to manage the Convexity Fund as we always have—independently and with a disciplined approach to investing that has enabled us to generate excellent returns for investors.”

Founded in 2009, StormHarbour employs a staff of 170 in offices in New York, London, Geneva, Hong Kong and Singapore.

The firm’s core businesses are fixed income sales and trading, structuring and advisory, and capital markets under StormHarbour Securities, and alternative asset management under StormHarbour Alternative Investments, which is subject to FSA approval. 

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