Thursday, 31 July 2014
Last updated 16 min ago
Jan 17 2014 | 3:08pm ET
Eminence Capital veterans Hari Ramanan and Adam Ryan have raised over $100 million for their new hedge fund.
Regulatory filings show the onshore Valarc Fund launched in January with $47 million while the Caymans-based Valarc Offshore Fund launched with $60 million. (It should be noted the filings reflect only investments from U.S. investors; media reports last year said the pair would launch with over $200 million.)
The New York-based firm will employ a concentrated long/short global equities portfolio, The Wall Street Journal reported in December, similar to the strategy employed by the $4.5 billion Eminence.
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.
Contacted by FINalternatives, Valarc declined to comment on the launch.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…