Ex-CQS U.S. Pair Plan Arbitrage, Event-Driven Hedge Fund

Jun 6 2012 | 11:26am ET

Two CQS veterans are set to launch their maiden hedge fund next month.

JPark Capital, founded by former CQS trader John Park and former U.S. CEO Keith Danko, will debut with between $3 million and $5 million, HFMWeek reports. Its JPark Arbitrage Fund will be a market-neutral fund, using four proprietary models Park has built over the last 15 years to invest in merger and closed-end fund arbitrage and event-driven strategies.

JPark Arbitrage's initial assets will come from Park, Danko, friends and family. But the New Jersey-based firm is considering seed agreements to help it reach its initial capacity of $250 million.

JPark will charge 1.5% for management and 20% for performance, with a $500,000 minimum investment requirement and a one-year soft lockup, with a 3% early withdrawal penalty.

The firm's founders joined CQS four years ago as it sought to boost its presence in the U.S. Prior to joining CQS, JPark's namesake worked at Tribeca Management, Citigroup Alternative Investments and Sagamore Hill Capital Management. Danko is currently co-head of Witherspoon Capital Partners and is formerly CEO of ACAM Advisors.


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