Tuesday, 30 August 2016
Last updated 1 hour ago
Apr 18 2012 | 12:14pm ET
Following its first seed investment, Stone Toro Asset Management has created an offshore version of its flagship event-driven arbitrage strategy.
The Princeton, N.J.-based firm launched its ST Alpha Event Fund in the Cayman Islands at the end of last month, HFMWeek reports. The fund received a commitment from a European institutional investor last month to bring its total assets under management up to about $40 million.
Stone Toro launched the fund last year, focusing on short-term, high-information events with defined catalysts. The firm was founded in 2010 by former Merrill Lynch Investment Managers portfolio manager Jeffrey Russo and two other Merrill veterans, Michael Jarzyna and Richard Jenkins.