Reborn Raptor Adds HSBC's Pannes

Mar 3 2011 | 8:53am ET

For the resurrection of his Raptor Capital Management, former Tudor Investment Corp. star manager James Pallotta has scored a fellow sports fan to handle direct investments for the firm.

Mark Pannes will cover sports, media, entertainment, consumer goods and hospitality for the Raptor Evolution Fund, launched last year by Pallotta, Financial News reports. Evolution, which focuses on mid- and small-cap stocks, followed the failure of Pallotta's Raptor Global fund, which he launched to much fanfare (and with $800 million) in 2008. But, a year later, battered by losses, Pallotta pulled the plug.

Raptor Evolution, however, has already garnered $200 million in assets and hopes to lure back Raptor Global investors by waiving fees until the new fund has recouped its predecessor's losses.

Pannes joins Boston-based Raptor from HSBC Private Bank, where he set up and led a unit designed to serve wealthy sportsmen and women. Among Pannes' initiatives was a deal with IMG, the world's largest sports agency.

Before joining HSBC, Pannes was a managing director at French basketball team Paris Basket Racing.

Pallotta is no stranger to the world of sport, himself, owning a piece of his hometown basketball team, the Boston Celtics.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note