Wednesday, 29 March 2017
Last updated 7 hours ago
Nov 4 2011 | 9:55am ET
Hedge fund seeder NewAlpha Asset Management has helped Heieck Siebrecht Capital Advisors push its assets under management to near US$100 million.
Zürich, Switzerland-based Heieck is the 17th hedge fund backed by Paris-based NewAlpha. The firm, whose Varus Capital Management's Varus Fund has posted an impressive 20.1% return this year, focuses on German stocks. The fund is up 46.7% since its debut two years ago.
Heieck did not specify the size of NewAlpha's seed investment. The firm had about US$680 million invested in 16 managers prior to the Heieck seed.