Fla. Firm Unveils First Hedge Fund 'Series'

Florida's Lucre Capital has announced an ambitious plan to create several "series" of hedge funds.

The firm, founded by high-frequency trading veteran Noah Lieske, has already launched its first series, the Market Making & Operation Series, HFMWeek reports. The liquid, market-neutral offering will do just what it says, focusing on market-making to different liquidity pools.

Lucre plans to add short-term algorithmic spot foreign exchange and statistical arbitrage series in the future. The firm specializes in spot forex trading.

In addition to the first series, Lucre has also launched an emerging manager seeding program. The firm will focus on high-alpha algorithmic trading hedge funds.

The market-making series charges no management fee but takes 50% of profits. There is a $500,000 minimum investment requirement with daily liquidity. Rabobank serves as prime broker.