Sunday, 28 December 2014
Last updated 3 days ago
Feb 5 2013 | 1:53pm ET
Swieca Seedling doesn't have quite the ring of Tiger Cub, but Highbridge Capital Management co-founder Henry Swieca's first foray into backing his former protégés is ready for its debut.
Swieca's Talpion Fund Management, the hedge-fund-turned-family-office that he founded upon leaving Highbridge three years ago, seeded former portfolio manager Marc Majzner's Clearline Capital with $50 million a year ago, with Swieca and his family kicking in a further $20 million.
While Clearline declined to comment on performance, a source with knowledge of the fund told FINalternatives the New York-based event-driven vehicle returned over 26% (net of fees) in 2012 and is set to begin taking outside capital, beginning on March 1.
Clearline, a "catalyst value" fund, is the first and sole hedge fund to emerge as a seeding opportunity from Swieca from an idea he got from fellow retired hedge fund manager Stanley Druckenmiller, who does the same.
Clearline is based at Talpion's New York offices and employs Talpion's infrastructure and support. In addition, Talpion will help the new firm with fundraising, potentially from its former investors, who got their money back in 2011 when Swieca turned the two-year-old firm into a family office. As part of the arrangement, Talpion gets a share of Clearline's profits.
Majzner worked for Swieca for two years, joining Talpion from hedge fund North Run Capital. He formerly worked at private equity shop Spectrum Equity Investors and Credit Suisse.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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.