Wednesday, 1 October 2014
Last updated 3 hours ago
Feb 4 2011 | 2:14am ET
Three of the four founders of Symphony Asset Management have teamed up again to launch another hedge fund firm.
Resultant Capital Management has been formed by several former employees of Symphony, which manages $9 billion, in San Francisco, HFMWeek reports. The new firm plans to launch its maiden hedge fund this month.
The founders include Symphony founders Praveen Gottipalli, Michael Henman and Jeff Skelton. Other Symphony vets on the new firm's team include lead portfolio manager David Wang. Michele McGovern serves as chief operating officer.
Resultant's Hedge Equity Fund will debut with $20 million in partner capital. The U.S. long/short equity fund will have between 20 and 40 positions across market sectors and market capitalizations.
The new fund will charge 1.5% for management and 20% for performance with a $500,000 minimum investment requirement. There is no lockup. Resultant boasts two big-name prime brokers in Goldman Sachs and Morgan Stanley.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...