Thursday, 31 July 2014
Last updated 12 min ago
Feb 26 2014 | 1:23pm ET
After five years rejiggering its business, hedge fund Trafelet Capital Management is ready to accept outside capital once more—albeit with a new partner and a new name.
Trafelet announced late last month that it had hired Highbridge Capital Management's George Brokaw as a managing partner and would rechristen itself Trafelet Brokaw & Co. The New York-based firm, which has more than $425 million in assets, also said it would "selectively open to outside capital."
"I've spent the last five years simplifying the business so I can get back to what I love doing, which is focusing on stock picking," firm founder Remy Trafelet told Opalesque. "So now it's me and a handful of analysts."
And, of course, Brokaw, who will help handle investor relations and free Trafelet to focus on investments. Prior to joining Highbridge, Brokaw worked at Perry Capital and Lazard.
Trafelet Capital was closed to new money when the financial crisis hit, and the firm declined to restrict investor redemptions. But the experience taught Trafelet that he doesn't want to run so large a firm again, and although he's accepting new investors again, he's not taking just anybody.
"Going forward we want to be more selective with investors and make sure out interests are aligned," he told Opalesque.
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…