Highbridge Founder's First Seed Comes To Market

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.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note