Wednesday, 1 July 2015
Last updated 5 min ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…