Highfield Vet Raises Over $500M For New Hedge Fund

Jan 15 2014 | 10:59am ET

Highfields Capital vet Matthew Sidman has launched his Three Bays Capital hedge fund with over $500 million, a source with knowledge of the fund told FINalternatives.

Regulatory filings show Sidman has raised $275 million for the onshore vehicle and $112 million for the offshore vehicle in the master-feeder structure, but the firm notes the totals represent only monies raised from U.S. investors.

Media reports in December said Sidman expected to reach at least $1 billion in assets under management in 2014.

Sidman serves as managing partner and chief investment officer at Three Bays. Josh Gold, previously managing director and head of the hedge fund relationships group at Jefferies, is the new firm's chief operating officer.

Joe Gigliotti, managing director and CFO at Three Bays, was previously managing director, COO and CFO at New York-based hedge fund Boston Provident and before that held the same positions at another New York-based hedge fund, Halogen Asset Management.

Martha Mensoian, Three Bays chief compliance officer and general counsel, was previously with P. Schoenfeld Asset Management, Capstone Investment Advisors and, like Sidman, Highfields.

The deep value, event-driven fund will invest in stocks in North America and Europe. Minimum investment for Class A and B shares is $5 million and may be waived. Minimum investment in Class C and D shares is $150,000,000.

Three Bays was founded in April 2013 and has 13 employees, including five performing investment advisory functions (including research).

A spokesman for Three Bays Capital declined to comment on the new launch.


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