Stone Toro Event-Driven Fund Hits $150M

Jun 11 2012 | 9:23am ET

Talk about a growth spurt: Stone Toro Asset Management’s event-driven fund went from $8 million in assets under management in April to $150 million in June, thanks to two significant allocations.

Michael Baum, spokesman for the Princeton, New Jersey-based firm, said the allocations were from a European pension and the fund’s original seeder, described in a statement as “an institutional European investor.”

The fund in question, the ST Alpha Event Fund, is a multi-strategy event-driven arbitrage vehicle focused on “short-term, high-information events with defined catalysts” and employing four primary strategies: index changes, structural changes, merger arbitrage and relative value pairs.

It’s managed by Jeffrey Russo, who helped found Stone Toro in January 2011 with his former Merrill Lynch colleagues Michael Jarzyna and Richard Jenkins. Russo specializes in event-driven strategies and quantitative portfolio management and has managed these strategies with over $14 billion in AUM at Blackrock, Merrill Lynch and Bankers Trust.

ST Alpha Event returned 2.30% year to date through April 2012. For the prior 12-month period, the fund returned 4.17% while the average event-driven fund, according to the HFR Event Driven Index, lost 2.8%.

 


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Expert Says Scale Of Baillon Classic Car Find Rare

Dec 29 2014 | 3:40am ET

Forget about hedge funds, buying rare, classic cars could be called the ultimate...

Guest Contributor

EidoSearch’s Top Three Market Projections For 2015

Dec 23 2014 | 4:03am ET

It is that time of year again when prognosticators make their big market calls for...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.