Capstone Begins Fundraising For Maiden Real-Estate Hedge Fund

Apr 23 2012 | 3:10pm ET

With a track record of just shy of two years, Capstone Equities Capital Management has opened its first hedge fund to outside investors.

The New York-based firm, a division of private equity real estate firm Capstone Equities, hopes to raise $50 million for the fund, which has returned 24.33% since its launch in May 2010. The fund makes concentrated investments in real estate and other companies with physical asset value, HFMWeek reports, as part of a value strategy. Among its portfolio companies are European real-estate companies, real-estate investment trusts, homebuilders, real-estate operators and retailers, metals and mining, and shipping companies.

"We are completely differentiated by our background as owners of real estate, which provides us proprietary ideas, access to information, and a total return philosophy that other investors in the Street do not have," Capstone founder and portfolio manager Josh Zamir told HFM.

Capstone will target global institutional investors. The fund has a $250,000 minimum investment requirement with a one-year lockup. It features monthly liquidity and charges 2% for management and 20% for performance.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...