Chicago Volatility Fund Opens To Outside After Double-Digit First Year

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.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of