Tuesday, 21 October 2014
Last updated 43 min ago
Sep 26 2013 | 11:21am ET
After seven years, the "K" in MKP Capital Management is back.
Eric Keiter has established Shadow Tree Capital, his first investment business since leaving MKP in 2006. In the interim, he's run a company leasing vehicles to car services.
The new firm isn't exactly a hedge fund: Instead, New York-based Shadow Tree will run closed-end funds focused on non-bank financing, such as consumer debt and direct loans to small and mid-sized businesses, Hedge Fund Alert reports. Maturities would run from two months to two years.
Keiter plans to begin fundraising for the firm's first vehicle next month, hoping to attract between $15 million and $25 million by a final close in the spring. The first fund is for U.S. investors; a second fund for European investors would follow. Shadow Tree will charge a 1.25% management fee and 20% performance fee over a 6% hurdle.
Keiter is launching Shadow Tree with two partners, including one, Samuel Gradess, who works with him at New York Livery Leasing. The third partner is not named and currently works as an adviser to a large bank's hedge fund business, but will handle fundraising.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...