Symphony Vets Compose New Long/Short Hedge Fund

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.


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...