Friday, 22 May 2015
Last updated 5 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…