Thursday, 31 July 2014
Last updated 27 min ago
Jul 16 2013 | 9:51am ET
Investcorp’s U.S. hedge fund business has made a strategic investment in New York-based asset management firm Kortright Capital Partners.
Kortright’s founders, Matthew Taylor and Ty Popplewell, said that Investcorp would provide their emerging firm with growth capital while at the same time offering its investors access to a specialized event equity strategy.
Founded in 2010, Kortright is the newest asset manager to join Investcorp's Single Manager Platform, which has a total of $2 billion in client and proprietary assets under management. Historically, Investcorp provides initial seed capital ranging from $50 to $100 million.
Kortright focuses on the equities of small and mid-cap companies at complex points in their corporate lives.
"Through this partnership with Kortright, the Single Manager Platform can now provide investors with access to a hedge fund manager with expertise in monetizing opportunities stemming from corporate activity," said Nick Vamvakas, managing director, head of development for Investcorp's Single Manager Platform. "Current market conditions have fostered an attractive environment for event equity strategies, and Kortright is one of very few true specialist managers in this space."
Taylor and Popplewell have a combined 25 years of investing experience, and they have been investing together for nearly a decade. Prior to forming Kortright, they worked together at Och-Ziff Capital Management Group where they held managing director and senior analyst positions, respectively. Over the course of their careers, they have managed over $1 billion in hedge fund assets.
"The familiarity and continuity between Matt and Ty, as well as their proven pedigree of managing large amounts of capital were critically important factors in our final decision," Vamvakas added.
"Investcorp was one of the first proponents of emerging managers, and their support validates our differentiated approach to event equities," said Taylor. "We have found a likeminded partner whose experience as an investor and seeder will prove instrumental in growing a platform that can deliver our specialized product to institutional investors."
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