Monday, 25 May 2015
Last updated 3 days ago
Apr 11 2011 | 1:06pm ET
Basswood Capital Management has launched a hedge fund focused on U.S. financial services firms.
The New York-based firm, which has $400 million in assets under management, launched the Basswood Financial Fund late last month, HFMWeek reports. The new vehicle debuted with $25 million, a combination of internal capital and seed investments from some existing family office investors.
The new fund, Basswood's second, invests in about 70 names, 30 long and 40 short, across all market capitalizations. It is managed by Basswood founders Matthew and Bennett Lindenbaum.
"Basswood has been managing money for over 20 years and we have seen the financial cycle twice, made good money the first time and anticipate doing the same this time around," marketing and investor relations chief Jim Sheehan told HFMWeek.
Basswood Financial has a capacity of $500 million. It has several share classes with differing fees and liquidity terms. Morgan Stanley and BNP Paribas serve as prime brokers.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…