Ex-Valhalla Forex Trader Goes It Alone

Jan 26 2012 | 9:52am ET

Valhalla Capital veteran Stephen Hart is back with a new hedge fund firm and a maiden foreign exchange and commodities trading adviser offering.

Hart's Candor Capital Advisors' CandorFX Series 1.1 launched in the fourth quarter, HFMWeek reports. The fund's proprietary trading program focuses on the spot foreign exchange markets, aiming for very low correlation with traditional investments.

CandorFX is actually the second hedge fund Hart launched last year: He was responsible for Valhalla's new spot forex strategy, as well.

Hart told HFM he left Valhalla to found Maryland-based Candor to focus exclusively on foreign exchange. The new fund has a $100 million capacity, a $25,000 minimum investment requirement and no lock-up period. Targeted at high net-worth individuals and funds of hedge funds, Candor charges 2% for management and 25% for performance.

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