Simple Alternatives Vet Readies Socially-Responsible Hedge Fund

Oct 1 2013 | 1:33pm ET

A former Simple Alternatives managing partner is set to launch a socially-responsible fund of hedge funds.

Bruce MacDonald, who left Simple Alternatives yesterday, opened Crayna Capital today. The firm plans to introduce a commingled mission-based product in the first quarter, MacDonald told Pensions & Investments. He added that he's already received some interest from institutional investors.

In addition to managing the hedge fund, Crayna will offer investment consulting services, building customized strategies for clients based on social, governance and environmental objectives, he said.

At Simple Alternatives, MacDonald was co-manager of its long/short equity absolute-return mutual fund with CEO James Dilworth, who will now run the fund on his own.

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