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

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note