Saturday, 28 November 2015
Last updated 13 hours ago
Mar 14 2012 | 2:35pm ET
New hedge fund firm Quippa Capital Management will roll out a global macro offering in the second quarter—its maiden launch.
New York-based Quippa's first fund will have a long volatility bias in most environments, HFMWeek reports. It will launch, later in the second quarter, with internal capital and investments by several high-net worth individuals.
Quippa hopes to have $150 million in assets under management by the end of the year.
Quippa is the new base for David Mike, a former Goldman Sachs derivatives specialist. After leaving Goldman, Mike worked at Deutsche Bank and has been, since last year, a consultant to ADK Capital. Mike is hoping to hire a CFO for the new firm.
The new firm will charge 2% for management and 20% for performance, with a one year lockup—except for early investors in the founders' share class, who will get lower fees in exchange for an 18-month lockup. There is also a minimum investment requirement: $3 million for individuals and $10 million for institutions.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…