Tuesday, 2 June 2015
Last updated 21 min ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…