Thursday, 26 November 2015
Last updated 14 hours ago
Apr 25 2012 | 1:35pm ET
With an impressive one-year track record, GalNet Asset Management is open for (outside) business.
The Chicago-based firm, which launched its maiden hedge fund last April, has opened that fund to outside investors. GalNet Alpha Fund currently has $50 million in assets, and returned 14.46% last year. The volatility arbitrage strategy is up 8.59% this year, HFMWeek reports.
GalNet Alpha is now open to outside investors; indeed, it's the first time since co-founder Kevin Galassini set up Vintage Capital, GalNet's predecessor fund, in 2001 that he's been looking for client money. Vintage was never marketed.
Galassini, who serves as the new firm's portfolio manager, is joined at GalNet by Barry Netszky.
GalNet has a capacity of $1 billion. It charges 1.8% for management and 25% for performance, and has a $1 million minimum investment requirement with a soft one-year lockup.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…