Saturday, 25 October 2014
Last updated 20 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.