Friday, 27 November 2015
Last updated 1 day ago
Sep 14 2006 | 12:00am ET
Alternative asset manager Balance Asset Management has received a “significant” allocation from RMF, a core investment manager of Man Investments, according to a source close to the firm, who added that the fund has generated a 6% year-to-date net return through August 31. The firm’s current assets under management now stand at over $100 million.
Hans Hurschler, head of RMF’s Hedge Fund Ventures unit, said in a release, “We are delighted to have identified Balance as an investment opportunity at an early stage.”
Balance was founded in January of this year and now has one fund, which employs an event-oriented strategy that incorporates long/short equity, arbitrage and derivatives. According to the source, the fund holds between 25-40 positions at any given time, and although it has a global mandate, it is largely invested in the U.S.
Balance’s founders, Steven Audi, Kevin Robik and John DiRocco hail from Resurgence Asset Management, Bear Stearns & Co. and Citadel Investment Group, respectively.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…