Princeton Takes Stake In Fund Of Funds, Preps Credit Hedge Fund

Oct 17 2007 | 10:44am ET

Fixed income specialist Princeton Alternative Investment is looking to give its investor base broader exposure to hedge funds with its latest deal. 

The Princeton, N.J.-based firm has taken a minority stake in fund of hedge funds operator NewMarket Capital Partners. Both firms will remain independent entities. Terms of the transaction were not disclosed.

Patricia Young, one of three NewMarket co-founders, said both firms came together to accelerate their collective strategic plans and create a full-service investment platform.

“From both sides investors were saying, ‘Show me more’ and we saw this as a great way of accelerating that,” said Young, whose firm currently manages a diversified fund of hedge funds. “Princeton currently manages a series of structured products and their next evolution is to offer direct hedge funds.”

The Princeton Credit Opportunities Fund, an extension of a strategy that Princeton currently manages under its structured products portfolio, will launch sometime in the fourth quarter. Paul Malecki, a senior portfolio manager responsible for bank loan debt, will manage the fund.

For its part, Young said NewMarket will be looking to add Princetion investors who are “very interested” in funds of funds to its investor base, adding, “as market opportunities arise we’ll look to be launching specific strategy funds of funds.”

NewMarket was founded in 2003 by Young, Diana Wagner and Mindy Posoff. Princeton currently manages in excess of $13 billion in asset-backed securities, mortgage backed securities and leveraged loans.


In Depth

Q&A: Jeff Eaton Talks Capital Raising, CalPERS And The Secondaries Market

Oct 14 2014 | 10:16am ET

Global placement agent Eaton Partners has raised close to $60 billion for some of...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.