Saturday, 23 May 2015
Last updated 15 hours 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.
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…