Thursday, 26 May 2016
Last updated 24 min ago
Mar 11 2008 | 2:00am ET
Connecticut-based Pequot Capital Management has launched a hedge fund that invests in the financial services sector. The Pequot New Prospect Fund launched with $34 million in assets on Jan.1.
The Pequot New Prospect Fund seeks to generate absolute returns by exploiting the cyclical nature of the financial services sector and by investing in other U.S. and international value-based opportunities, according to a document obtained by FINalternatives.
A firm spokesman decline to comment on the new product.
Currently, the firm manages approximately $6.5 billion in assets (including approximately $218 million of uncalled committed capital) in multiple strategies across the capital structure including Pequot Ventures, which will separate from the firm on June 30.