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

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

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.