Finisterre Capital has launched its first dedicated long/short equity fund and will begin marketing it in the second quarter.
The London-based firm seeded the Finisterre Equity Fund with US$25 million in November, the firm said. It is managed by Alistair Candlish and Edward Cole, who currently manage a "substantial" chunk of the firm's US$800 million Global Opportunity Fund.
At the new fund, Candlish and Cole will employ a top-down macro investment process. The two are targeting an annualized return of 15% to 20%.
Finisterre said it would open the vehicle to outside investors in the second quarter.
"There has been growing investor demand for a Finisterre equity fund," co-founder Paul Crean said. "The new fund nicely complements our existing emerging markets offering, and rounds out our product range."