Grosvenor Seeds Citadel Vet Scherer's ABS Fund

Jan 22 2013 | 10:30am ET

Grosvenor Capital Management has seeded Citadel vet Kevin Scherer's new structured fixed income fund, Continuum Investment Management, with $85 million.

Scherer formerly managed the Single Investor Fund at Citadel. Prior to that, he spent eight years at the mortgage-focused hedge fund The Midway Group, which he co-founded in 2000.

Scherer has been joined at Continuum by a team of his colleagues from Citadel including Brian McDonald, senior portfolio manager; Jimmy Rizos, CTO; Stephen Cameron, head of research. McDonald and Rizos held similar posts at Citadel, while Cameron was a quantitative mortgage strategist. Continuum's chief operating officer, Greg Scarffe, joins the firm from Credit Suisse Prime Services.

Continuum seeks to capitalize on prepayment and credit-centric market opportunities across residential mortgage-backed securities, commercial mortgage-backed securities and other asset-backed securities.

Said Scherer in a statement: "Our integrated multi-strategy platform and experienced team offers investors a single point of entry to a broad opportunity set in securitized products investing. We are excited about our strategic partnership with Grosvenor Capital Management, and look forward to producing attractive returns for our investors."

It's the third such deal Grosvenor, an alternative investment giant with over $22 billion in assets under management, has entered since launching its most recent emerging managers program in early 2012.


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.