Ex-Hedge Fund Manager Founds Fundraising Business

Dec 8 2010 | 10:24am ET

Having garnered more than $100 million for his own hedge fund, Marcel Melis is offering his fundraising talents to other managers.

The Energy Capital Management founder, who shuttered his MMT Energy Fund earlier this year, has launched a new capital-raising business. He said he would market his wares to firms that already have at least $100 million in the bank and boast "a strong track record and institutionalized process."

"I believe I can work with roughly 10 managers and will start with a couple," Melis told Bloomberg News. "It won't just be in energy, but anything from long/short equity to emerging markets funds."

Melis said his Curaçao-based MGI NV has already lined up one fund. He added that he is in talks with several others.

Melis opted to shutter his four-year-old MMT fund in May, after it lost 5% over the first four months of the year. The fund, at its peak, managed more than $140 million.

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