Friday, 24 March 2017
Last updated 10 hours ago
Nov 2 2011 | 10:59am ET
A New Jersey merchant bank is getting into the hedge fund business.
Point Capital Partners will launch its first hedge fund on Jan. 1, HFMWeek reports. The new fund will be managed by Stadia Capital co-founders John Fleming and Richard Swift, seeded with proprietary capital and money from family and friends.
Fleming and Swift ran Stadia from 2001 until 2008, a year after it was acquired by FrontPoint Partners.
The Point Capital Aligned Wealth Fund Advisors vehicle will employ a long/short equity strategy. The global fund will focus on mid- and large-cap financial and consumer companies, with an average of 50 names in its portfolio—half longs and half shorts.