Small CTA With Impressive Pedigree Doubles Assets

Apr 22 2013 | 11:14am ET

Solaise Capital, a three-year-old hedge fund launched by veterans of some of the most prominent quantitative firms, has nearly doubled its assets under management over the past few months.

London-based Solaise now manages US$165 million, up from US$86 million at the end of November, Reuters reports. A pension fund's investment is responsible for much of the gain, although Solaise said it has enjoyed other inflows this year.

The commodity trading adviser was founded in 2010 by former employees of Aspect Capital, the Man Group's flagship AHL strategy and Winton Capital Management.

Solaise's fundraising success comes in spite of the fact that it lost money both in 2011 and last year, dropping 1.1% in the latter.

"We launched at probably the worst time you could launch a CTA in 20 years," James Walker, the former CFO at Aspect and now chief operating officer at Solaise, told Reuters. "Everyone understands it's been a truly dreadful run for CTAs, and they appreciate we've done pretty well. Clearly, we need to deliver absolute performance."

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