Harvard Team To Launch Emerging Markets Event-Driven Hedge Fund

Feb 15 2012 | 2:46pm ET

Two veterans of Harvard University's massive endowment are set to launch their maiden hedge fund.

Steve Alperin and Sara Fleiss have founded Emeth Partners in Boston. The new firm plans to unveil its first hedge fund, an emerging markets-focused event-driven volatility vehicle, in the third quarter, HFMWeek reports.

Alperin spent more than two decades at Harvard Management Co., running the $32 billion endowment's emerging markets equities portfolio. Fleiss worked for the school's money arm for just five years as Alperin's lead analyst after spending time on Citigroup's equity derivatives desk.

Harvard has been fruitful ground for budding hedge fund and private equity managers. Five firms founded by HMC veterans over the past 14 years managed more than $43 billion as of last year, including Adage Capital Management and Convexity Capital Management, the latter launched in 2006 by former HMC chief Jack Meyer with $6 billion. The firm now manages more than twice that sum.

More recently, HMC external management portfolio manager Robert Russell left Harvard for Avenue Capital Management, where he will launch its first fund of hedge funds.


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