Sunday, 29 March 2015
Last updated 1 day ago
Mar 5 2008 | 1:00am ET
Hedge fund Pequot Capital Management is spinning off its venture capital unit.
New York-based Pequot Ventures, which has about $2 billion in capital commitments and $1 billion in capital under management and uncalled capital, will separate from Connecticut-based Pequot Capital, which manages more than $7 billion, on June 30. The new firm will drop the Pequot name, adopting the nom de venture FirstMark Capital.
“Our venture business has been functioning as an autonomous entity for some time and this separation in the next logical step for both Pequot Capital and Pequot Ventures’ successful yet distinct business,” Larry Lenihan, co-head of Pequot Ventures, said. “As a separate entity, we will be better positioned to pursue our investment agenda and develop new opportunities unique to our business.”
Pequot Ventures, founded 11 years ago, focuses on companies with novel business or operational models. In addition to Lenihan, FirstMark will be led by current managing directors Jerry Poch, Amish Jani and Rick Heitztmann, along with venture partners Larry Wilson and Sterling Phillips.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…