TCI's Powers Readies Long/Short Value Hedge Fund

Mar 4 2011 | 11:33am ET

A top analyst and partner at The Children's Investment Fund has left the firm and will launch his own hedge fund.

Stuart Powers is the latest TCI partner to exit the famed activist hedge fund, departing in January. He is also the latest ex-TCI partner to plot his own hedge fund launch, following the debuts in 2009 and last year, respectively, of former TCI founding partner Patrick Degorce's Thélème Partners and former TCI Asia chief John Ho's Janchor Partners.

Powers plans to launch a global equity long/short fund this year, but will not open to outside investors until next year in keeping with Powers' non-compete agreement with TCI, Financial News reports. The new fund will have about 20 long positions and half as many shorts, which a capacity of between US$600 million and US$700 million. Powers plans to focus on undervalued franchise companies.

The still-unnamed firm will feature a trio of analysts in addition to Powers.

Powers spent seven years at TCI, most recently as its top European analyst. He also managed a sub-fund for TCI's flagship from September 2009 until October, earning 21.5% for TCI investors over the period.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note