Tuesday, 22 July 2014
Last updated 1 hour ago
Apr 10 2008 | 5:12pm ET
Investment bank and advisory firm LRG Capital Group is teaming up with alternative asset manager Admiral Capital Management to launch a multi-strategy hedge fund.
The fund, the LRG Capital/Admiral Flagship Fund, will be managed by William Ellsworth, CEO of Admiral. Ellsworth also manages Admiral’s existing Flagship Master Fund, which launched in January 2007 with $110 million in assets under management.
"As fundamentals have deteriorated, the recession/reflation struggle leads to sharp directional market movements which create hedged-directional opportunities—the Flagship Fund employs a tactical disciplined strategy intended to take advantage of market movements," said Ellsworth.
The LRG Capital/Admiral Flagship Fund uses fundamentally based and tactically driven volatility, credit, hedged directional and relative value sub-strategies employed through convertible securities as well as other securities in the capital structure and related derivative instruments.
According to the firm, the actively managed strategy differentiates the LRG Capital/Admiral Flagship Fund from an indexed traditional convertible arbitrage approach. To create alpha, the team opportunistically overweights, underweights or eliminates certain sub-strategies, market sectors and securities.
LRG Capital is based in San Francisco and has offices in New York and Miami, while Admiral Capital is based in Greenwich, Conn.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…