Pequot Launches Sector-Focused Hedge Fund

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.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.