Former Dresdner Trader Launches Long/Short Fund

Jun 22 2007 | 12:13pm ET

Patrick D’Angelo, a former U.S. equity prop trader for Dresdner Investment Bank, this month launched Hyerdale Capital, a market neutral long/short equity fund that has a short-term holding period of between two weeks and two months.

“It’s not one of these buy and hold type funds,” said D’Angelo. “It’s all fundamentally driven and technically backed. Seventy five percent of the portfolio is focused on large-cap stocks with the balance in micro- to mid-cap stocks. This portfolio is always dollar neutral and if anything I take a small short bias on a beta basis.”

In his second full week of trading, D’Angelo said he initiated short positions in the restaurant sector, specifically Bob Evans, a family restaurant chain and retail foods concern. D’Angelo’s long positions include Seagate Technology and Spirit Aerosystems. He said the fund is not limited to domestic and can invest in international names via ADRs.

D’Angelo, who launched the fund with his own capital, said he is currently talking to seeders and early stage investors to raise assets for the fund.

Hyerdale charges a 2% management fee and 20% performance fee, with a $1 million minimum investment requirement. It has a one-year lockup with quarterly withdrawals thereafter.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.