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

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR