Stark Vets Raise $35M For New Hedge Fund

Feb 20 2013 | 12:34pm ET

Two former Stark Investments executives are readying a new hedge fund for launch.

Michael Keough, a former principal at Stark, which shut down last year, and Jackie Darr, its former operations and human-resources chief, have founded Racon Capital Partners in Milwaukee. The new firm has raised $35 million from its partners and partners' friends, and is preparing both to launch its maiden hedge fund and to begin fundraising among outside investors.

Darr, who serves as chief investment officer of the new venture, told the Milwaukee Business Journal that Racon will begin accepting outside capital on March 1. The fund will have a $1 million minimum investment requirement.

Keough will serve as Racon's managing member; at Stark, he was a senior portfolio manager and oversaw a wide variety of areas, including risk arbitrage, distressed investing, energy, emerging markets, Latin America and fixed-income. He joined Stark in 1996 from Cargill's financial markets division.

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