Thursday, 29 January 2015
Last updated 49 min ago
Jan 25 2011 | 8:39am ET
Dallas-based HBK Capital Management had a strong fourth quarter in 2010—its four multi-strategy funds gained 3.30%, bringing the year-to-date composite performance for the funds to 11.62%.
The firm, which has about $5 billion AUM, attributes its 2010 success to trades in corporate credit, structured credit and equity/futures (quantitative).
Q4 also saw the launch of a new fund, the HBK Quantitative Strategies Fund, with $165 million in capital. HBK told investors it had been close to a full allocation to statistical arbitrage in its Master Fund for a year and decided the time was right to launch a separate vehicle devoted to this strategy.
HBK plans to maintain its “defensive posture” going into 2011, taking advantage of periods of market stress to expand its portfolio. The firm attracted subscriptions worth $940 million in 2010 and January 2011.
HBK takes its name from the initials from its founder, Harlan B. Korenvaes, a former Merrill Lynch managing director who launched the firm with $30 million in 1991.
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…