Monday, 27 March 2017
Last updated 35 min 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.