Monday, 20 April 2015
Last updated 7 hours ago
May 26 2011 | 11:08am ET
After honing his skills managing money for auto insurer GEICO, Robert Bierig is ready to take on another kind of client: hedge fund investors.
Bierig has launched his first hedge fund, Amethyst Capital Partners, HFMWeek reports. The long-biased, concentrated value stock fund—it has just 10 to 12 core positions—focuses on strong management teams and long-term investments.
"Owning good businesses is the best way to compound capital in real terms over time, and this fund is a vehicle to do that," Bierig explained.
Bierig most recently worked at GEICO Investments, helmed until last year by legendary investor Lou Simpson, who managed money for the Berkshire Hathaway-owned insurer for three decades. But he's also worked at hedge fund ESL Investments, under Edward Lampert, and Frist Capital, the family investment firm of former U.S. Senate Majority Leader Bill Frist.
Bierig's Amethyst Capital Management is based in Chicago.
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…