Wednesday, 27 May 2015
Last updated 4 hours ago
Jan 10 2012 | 12:07pm ET
A former Eton Park Capital Management portfolio manager will launch a hedge fund of his own this year with about US$500 million in initial assets.
Thierry Lucas has founded Portland Hill Capital in London. The firm's maiden hedge fund, a Europe-focused event-driven and equity long/short vehicle, is expected in the spring, Financial News reports.
Portland Hill could be among the largest hedge fund launches of the year; the firm hopes to raise around US$500 million. The new fund's strategy, designed to be liquid and nimble, should be capable of dealing with current levels of market volatility. Portland Hill will used deep fundamental analysis to target between 30 and 40 investment ideas.
Lucas, who serves as the new firm's chief investment officer, was the first trader Eton Park hired in London and had been with the firm since it launched in 2004. He left in July.
In addition to its founder, Portland Hill has hired a senior trader, whom FN did not identify. Lucas still plans to hire two operations professionals and an investor relations head.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…