Tuesday, 29 July 2014
Last updated 14 hours ago
Aug 24 2011 | 11:51am ET
A Jetstream Capital veteran is set to launch a hedge fund of his own.
Gary Dean has founded Carilliam Capital in Nashville, Tenn. The new firm will roll out three versions of its maiden strategy next month with about $50 million in initial capital, HFMWeek reports.
That strategy is a slightly long-biased all-cap, multi-sector, global one. Carilliam's funds will hold between 70 and 75 positions, 40 to 50 of which will be long. The Carilliam Global, Carilliam Offshore and Carilliam Global II funds have a capacity of $1 billion.
Carilliam's initial capital is primarily internal, although the firm has some commitments from high-net-worth investors, family offices and institutional investors. The firm plans to offer a break for early investors, charging a 15% performance fee on the first $100 million of outside capital.
Other investors will pay 20%; all will pay 1% for management. There is a $1 million minimum investment requirement and a one-year soft lockup with a 3% early redemption penalty.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…