Tuesday, 21 October 2014
Last updated 9 hours ago
Jun 21 2012 | 12:18pm ET
A former Morgan Stanley proprietary trader and an FBR Capital Management veteran have teamed up to launch a hedge fund next month.
Tony D'Andraia and Justin Meadlin founded Hyaline Capital Management in April. The New York-based firm will launch its maiden fund next month with $10 million in initial capital, all of it from D'Andraia, Meadlin and their friends and family.
The Hyaline Capital Opportunity Fund will be a top-down macro-driven long/short equity strategy. D'Andraia, Hyaline's CEO, and Meadline, its chief operating officer, plan to keep the fund highly liquid by trading only the largest stocks and exchange-traded funds, with a concentrated portfolio of 15 to 40 names, HFMWeek reports.
The fund, which has a $500 million capacity, will charge 1.5% for management and 20% for performance with a $1 million minimum investment requirement. It will offer monthly liquidity. JPMorgan Chase serves as prime broker and Admiral Administration as administrator.
D'Andraia was a vice president at Morgan Stanley's prop. trading operation until earlier this year, following stints at Avesta Capital Advisors, Moore Capital Management and Lehman Brothers. Meadline worked in institutional sales at FBR prior to joining forces with D'Andraia.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...