Ex-HMC Portfolio Managers Prepping New Relative Value Fund

Mar 31 2017 | 10:41pm ET

Former Harvard Management Company portfolio managers Graig Fantuzzi and Michele Toscani are reportedly forming a new relative value hedge fund.

The new firm, named TPRV Capital, is aiming to raise around $700 million and launch in the third quarter of this year, according to a Bloomberg article citing two unidentified individuals familiar with the matter. 

The company’s name is an acronym for Tufnell Park Relative Value, the duo’s strategy within HMC’s Tufnell Park family of internal fund structures named after former HMC CEO Stephen Blyth’s childhood neighborhood in London. 

Harvard Management Company, which manages the storied university’s $36 billion endowment, is seeding the new fund with $400 million, the article added. The news comes close on the heels of HMC’s January decision to shutter its internal hedge funds and cut its staff by roughly half in a dramatic overhaul aimed at improving performance. 

Another strategy that carried the Tufnell name within HFC was Tufnell Park Global Rates, which was run by Marco Barrozo until he left in late 2015 to form Cambridge Square Capital with former HMC commodities head Satu Parikh.

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