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

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of