Saturday, 31 January 2015
Last updated 13 hours ago
Jan 20 2011 | 2:55am ET
A JPMorgan Wealth Management veteran has launched her first hedge fund as she tries to recruit a strategic partner to seed the vehicle.
Ona Lewis’s Evermore Towb Global Investment Management debuted its maiden fund earlier this month, HFMWeek reports. The U.S.-focused equity long/short hedge fund is up about 5% so far.
Lewis said the Ohio-based firm hopes to attract an institutional investor, possibly one serving women or minority groups or those seeking investment firms led by them. “All of the leg work is done,” she said. “A strategic partner need only provide capital.”
The new fund charges 2% for management and 20% for performance with a $250,000 minimum investment requirement. It offers quarterly liquidity. But early investors will be offered more favorable terms.
Lewis managed some $6 billion in stocks and bonds at JPMorgan. But she managed long/short equity strategies at Integrity Investment and Service, a firm she founded before joining JPMorgan.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…