New York Firm Launches L/S Hedge Fund

New York-based Select Equity Group, a $6 billion asset management firm, has launched a new long/short hedge fund at a time when other hedgies are scrambling due to drawdowns and redemptions. 

The firm’s Astor Place Fund, a long-bias, all-cap offering, debuted in March. In its first four months of trading, the $6 million fund has suffered the same fate of many of its peers, losing 4.87%.