Young San Diego Firm Sets Not-So-Glacial Pace

Glacier Bay Capital, a new San Diego-based firm founded by three New York hedge fund vets, is off to a strong start with its first hedge fund.

Glacier Bay Partners launched on July 1 (FINalternatives 5/12) with $40 million, and is already up to $46 million on the strength of a 7% net return in its first quarter. The concentrated portfolio includes 15 to 25 long positions and a similar number of shorts, but does not focus on any particular sector.