Tuesday, 29 July 2014
Last updated 3 hours ago
Jun 2 2006 | 8:32pm ET
Newly-formed Trinium Capital Management is set to launch its first hedge fund, a long/short vehicle, on July 10. Mike Benevento, ceo and cio of the firm, said the fund will invest across all sectors and have a predominantly U.S. focus.
Benevento, who previously ran the media and telecom portfolio in a core group of funds at Art Sandberg's Pequot Capital, set up New York-based Trinium early this year, partnering with Chris Harvey, who serves as chief strategist and risk officer, and Eric Green, head trader at the firm.
Previously, Harvey was a portfolio manager at Munich Re Capital Management and Green was a managing director at Wachovia Securities.
"We take a fundamental, bottom-up approach to stock picking," Benevento said.
Benevento believes that the three partners' varied backgrounds make the team well-suited to manage a generalist fund.
"We bring three different, unique disciplines together," he said, including his experience as both a gaming analyst and a media, telecom and technology analyst. "The only thing we don't have covered is healthcare."
Once the fund is up and running, the firm is planning to hire a healthcare analyst. The fund currently has $15 million in soft commitments, and Benevento would like to launch with $35-50 million in assets under management.
The minimum investment is $1 million. Fees are 1.5% for management and 20% for performance.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…