Sunday, 29 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…