Grosvenor Makes Nightscape First Seedling

May 9 2012 | 9:56am ET

A Citadel Investment Group veteran has won the backing of fund of hedge funds Grosvenor Capital Management.

Grosvenor's seed investment in Nightscape Capital more than doubles that firm's assets under management. Grosvenor agreed to invest $75 million in Nightscape's Global Value Fund, managed by former Citadel portfolio manager Nick Stukas, as part of its emerging managers program. Nightscape is the program's first beneficiary.

In exchange for its seed investments, Grosvenor is seeking a roughly 20% stake in management companies. It will also offer operational and marketing support.

Nightscape, a European-focused relative value and special situations fund, returned 7.78% last year.

Stukas worked at Sandelman Partners after leaving Citadel, helping establish the former firm's London office.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...