Wednesday, 27 August 2014
Last updated 6 hours ago
Jul 27 2011 | 9:24am ET
Carl Icahn's former right-hand man is half-way to his goal of raising $1 billion.
Keith Meister's Corvex Capital has netted almost $500 million in assets since its launch in March, HFMWeek reports. The New York-based event-driven fund was seeded to the tune of half that amount by Soros Fund Management and hopes to raise at least $1 billion by the end of the year.
Corvex charges 1.5% for management and 20% for performance. The fund features quarterly redemptions after a one-year soft lockup—early exiters will pay a 3% redemption fee—with 60 days notice and a 25% gate. Goldman Sachs and JPMorgan Chase are prime brokers.
Meister resigned from Icahn Enterprises last summer after eight years working with the famed corporate raider and activist hedge fund manager, overseeing its gaming and real-estate investments. Earlier this year, at around the time that Corvex's maiden fund debut, Icahn announced he would be returning all outside capital from his hedge fund.
In addition to Meister, Corvex boasts former Icahn chief operating officer Rupal Doshi, former Omega Advisors portfolio manager Nick Graziano and former SAC Capital Advisors employee Michael Doniger.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...