Rubicon Vets Double Assets, Post Investment Gains At New Hedge Fund

Oct 8 2013 | 11:25am ET

Canosa Capital's inception was difficult and painful. It's early days are proving anything but.

The London-based global macro fund, founded by former Rubicon Fund Management chief investment officers Santiago Alarco and Timothy Attias, has more than doubled its assets under management in its first five months. The firm, backed by Brummer & Partners, now manages US$575 million.

Canosa returned 7.5% in its first four months of trading—four months that saw the average global macro fund drop nearly 4%—Bloomberg News reports.

Canosa debuted on May 1, two years after Alarco and Attias planned to launch their first post-Rubicon venture, a hedge fund called Sata Partners. Those plans were derailed when Rubicon sued them for breaching their fiduciary duty to the hedge fund after founder Paul Brewer was seriously injured in a 2009 fall from a horse. That lawsuit was settled last year.

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