Former Millennium PM Cowley Said To Prep New Global Equities Hedge Fund

Feb 6 2017 | 10:50pm ET

Ex-Millennium Capital Partners executive Michael Cowley is reportedly planning the launch of a new market-neutral global equities hedge fund manager later this year.

The new firm will be named Sandbar Asset Management, according to a Reuters article citing unidentified sources familiar with the plans. 

The fund could launch with as much as $300 million in assets under management, the article said, and be trading by the end of the second quarter. The new vehicle is expected to trade global equities in a market-neutral strategy aimed at capital preservation. 

Cowley was a portfolio manager for Millennium Capital Partners from May 2014 to this month, according to British regulatory filings. Beforehand, he managed global long/short equity hedge fund MC Squared Global Investors, and previously had roles at Citadel and Balyasny Asset Management. 

The new company was registered in London in January 2017, according to the filings, and lists former MC Squared partner James Mabey as chief operating officer. Additional analysts from Millennium are expected to come aboard Sandbar, according to the Reuters article, although additional details were not immediately available.

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