Tuesday, 28 March 2017
Last updated 14 min ago
Nov 16 2007 | 11:09am ET
Investcorp has seeded its second hedge fund in three weeks, investing $50 million in Stoneworks Asset Management, a London-based global macro shop.
Stoneworks was founded last year by Max Trautman, a former senior member of Goldman Sachs’ global macro proprietary trading group and co-founder of multi-strategy hedge fund Peloton Partners. The firm employs a global macro strategy that takes directional and volatility positions in currencies, fixed income, rates, commodities and equity indices.
“At Stoneworks, Max has built a talented team of successful prop traders–their complementary trading styles, approaches to market opportunities and debate achieve higher trade conviction across the team,” said Ibrahim Gharghour, Investcorp’s co-head of hedge funds. “We are particularly excited because Stoneworks marks the sixth partnership in Investcorp’s single-manager platform.”
Last week, the firm last month committed $50 to New Jersey-based Washington Corner Capital Management, a distressed and credit-based strategy.