Friday, 24 October 2014
Last updated 19 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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