N.J. Hedge Fund Gets Seed

Apr 5 2012 | 11:41am ET

With 15 months under its belt, Stone Toro Asset Management has won its first seed investment.

The Princeton, N.J.-based firm's maiden hedge fund attracted a commitment from a European institutional investor, HFMWeek reports. The ST Alpha Event Fund, an event-driven arbitrage vehicle, now manages some $40 million.

The fund debuted last January. Stone Toro was founded in 2010 by Jeffrey Russo, Michael Jarzyna and Richard Jenkins, three Merrill Lynch Investment Managers veterans.

The fund was up 2.4% last month.

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