Honne Seeks Investors For $50M Event-Driven Fund

Mar 15 2012 | 2:38am ET

New York hedge fund Honne has opened its first hedge fund to outside investors for the first time.

The event-driven shop launched its eponymous hedge fund in August, HFMWeek reports. Now, it is looking to high net-worth investors and asset allocators new to hedge funds to help it reach its initial capacity of $50 million.

Honne targets companies emerging from bankruptcy or undergoing a management shift. "We are buying things that are not part of indices," founder and portfolio manager Derek Cheung told HFM. "Avoiding these investments and focusing on small niche areas—that is where our edge is."

Cheung formerly worked as a retail broker at John Thomas Financial.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...