Moore Vets Get US$800M Seed From Old Firm

Feb 9 2012 | 4:01am ET

Stone Milliner Asset Management debuted last month with more than US$1 billion in initial assets—most of which belong to another hedge fund.

Moore Capital Management seeded the new firm, founded by Moore vets Jens-Peter Stein and Kornelius Klobucar, with a whopping US$800 million, Bloomberg News reports. New York-based Moore's money is held in a managed account by Stone Milliner.

While Moore has made a practice of seeding hedge funds launched by former traders, the seed funding provided to Stone Milliner is thought to be exceptionally high. The investment in the Zug, Switzerland- and London-based firm accounts for about 5% of Moore's US$15 billion in assets, meaning that Stein and Klobucar are effectively continuing to manage money for Moore.

Despite the generous seed from Moore, Stone Milliner, a macro specialist, continues to raise money. The fund has a $1 million minimum investment requirement and charges 2% for management and 20% for performance.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR