Ex-Goldman VPs Launch Malachite Capital Partners

Jan 14 2014 | 11:32am ET

Add Jake Weinig and Joseph Aiken to the list of Goldman Sachs alumni starting their own hedge funds.

The former Goldman vice presidents have raised more than $25 million for their Malachite Capital Partners, according to a source with knowledge of the fund.

Malachite is a "global market neutral equity volatility fund," according to Weinig, who told FINalternatives in a phone interview they “are looking essentially to take advantage of differences in supply and demand across global vol markets, capturing vol premium where vols are rich, and buying cheap vols where they're cheap.

“We think of it as a diversifying hedge fund asset, although it would fall into an absolute return bucket...Traditionally, vol funds have fallen into two buckets: either a tail-risk fund, which we are not, or you could have more of a traditional arb fund where you're investing in 10,000 line items and hoping to win on 6,000 of them. We are much more targeted, trying to be thoughtful about it and really trying to create an absolute return-type profile that should be able to perform throughout most market environments.”

In addition to Weinig and Aiken, New York-based Malachite Capital Management employs CFO Michael Kostolanksy, formerly of Citi hedge fund spin-off Spartus Capital.

Minimum investment for the new fund is $500,000; fees are 1.5 and 20 (after a 2% hurdle); and Weinig said their longer-term goal is to manage “just under $1 billion.”


In Depth

Firm Focus: Sustainable Insight Capital Bullish On ESG

Aug 12 2014 | 9:18am ET

Bruce Kahn spent over 15 years as a research scientist/consultant on environmental...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note