Korenvaes Founder Launches Market-Neutral Hedge Fund

Sep 11 2008 | 8:38am ET

Dallas-based Seager Capital Group has launched its first hedge fund, an equity-market neutral offering.

Seager Capital Partners employs a systematic approach to investing in listed equities over a three- to five-year horizon, according to a fund fact sheet.

Its core strategy is its quantitative stock selection program, which ranks stocks based on a “conditional scoring” of their fundamentals. It then applies those ranks to a model that incorporates valuation and volatility parameters, and selects stocks to hold as long or short positions based on their relative attractiveness within the model.

In its first three months of trading, the fund is up 1.7% and is managing just over $15.7 million. It charges a 1.5% management fee and a 20% incentive fee with a $1 million minimum investment requirement.

Seager Capital is headed by Aaron Seager, who previously served as vice president of Reservoir Capital Group, where he was responsible for formulating and executing its hedging strategies, risk management, and trading infrastructure. Seager also co-founded Korenvaes Capital Management, a hedge fund explicitly designed to manage the assets of the Harlan Korenvaes family.

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