Octavian Launches First Fund, To Staff Up

Mar 10 2006 | 12:00am ET

There’s a new hedge fund firm in town and it’s looking to staff up over the next few months by hiring a three-member research team, a cfo and a trader. Richard Hurowitz, chairman and chief investment officer of Octavian Advisors, which launched this week with $100 million in assets under management, confirmed the planned hires.

Hurowitz, previously a partner at multi-billion hedge fund Halcyon Asset Management, teamed up with Gregory Racz, who served as an attorney at Wachtell, Lipton, Rosen & Katz, to found the firm. The two are also working closely with private investment firm Reservoir Capital Group, which has committed $100 million to the new venture from various funds it manages.

Octavian will invest primarily overseas, including in both developed and emerging regions in Europe, Asia and Latin America.

“We are looking at opportunities that are off the radar screen of a lot of other larger funds,” said Hurowitz. “We have flexible capital and we have expertise in a lot of these markets, where, for a variety of reasons, there is less capital chasing [opportunities].”

The partners take an opportunistic approach to investing, placing money in a mix of public and private companies, distressed opportunities and private transactions.

“We have a portion of our capital that is hybrid, so we will look at things that are less liquid or have a longer investment horizon,” Hurowitz said.

Since Reservoir Capital was founded in 1998, the firm has partnered with portfolio managers to create five other investment management firms, which currently have combined assets under management of over $6 billion. Morgan Stanley and Goldman Sachs are serving as prime brokers for Octavian Advisors.

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