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.