Family Office Manager Wins Employer's Backing For New Hedge Fund

Mar 7 2011 | 9:52am ET

New hedge fund UltraHF Capital has won the backing of the multi-family office run by one of its co-managers.

Augustus Advisors has agreed to seed UltraHF's maiden Multi-Strategy fund, set to launch at the beginning of next month. The new firm is co-owned by Mark Abeshouse, Augustus' co-porfolio manager. Abeshouse will also co-manage the Multi-Strategy fund alongside Peter van Cleef, another founding member of UltraHF, who is also CEO of Lakeview Arbitrage and a partner at Lakeview Capital Market Services.

The UltraHF fund will feature a global portfolio that includes all four major asset classes. The fund will also make markets electronically in Europe and Asia.

The fund will launch with $10 million, a figure that rises to $30 million if managed accounts using the strategy are included. UltraHF is still looking for more, however.

"In order to grow this into a viable asset management business, you need to be percieved as having critical mass in assets under management as quickly as possible, and unfortunately the assets from Augustus Capital do not bring us up to those critical mass levels," Abeshouse, who formerly ran hedge fund Aires Fund, told HFMWeek.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...