Sunday, 23 October 2016
Last updated 1 day ago
Dec 2 2013 | 7:12am ET
A pair of Eminence Capital veterans are set to launch a hedge fund of their own with at least $200 million in initial assets.
Hari Ramanan and Adam Ryan have founded Valarc Holdings in New York. The two plan to build a concentrated long/short global equities portfolio, The Wall Street Journal reports, similar to the strategy employed by Eminence, which is up 8.43% this year and returned 24% last year.
Investors in Valarc will be subject to a four-year lockup.
Ramanan was a European and emerging-markets portfolio manager at Eminence, while Ryan served as a senior analyst. The $4.5 billion hedge fund has been in the news lately with its foray into activism, pushing for a merger between Jos. A. Bank Clothiers and Men's Wearhouse, which it owns 10% of.