Sunday, 29 November 2015
Last updated 1 day ago
Mar 24 2006 | 12:00am ET
Iron Horse Capital Advisors is gearing up to launch its first hedge fund, a long/short fund-of-funds, on May 1, and is not charging a performance fee. Instead, the Texas-based firm will charge a flat, 1% fee for management, and is able to do so because the firm has negotiated discounted fees with the underlying managers, according to Melanie Hutson-Bittone, head of marketing for the firm.
The Iron Horse Fund will invest with 7-12 niche funds. “We are investing in long/short hedge funds where the managers have a specific expertise in a specific industry,” Hutson-Bittone said. The new offering is being managed by Eric Kottke, who founded Iron Horse in 2002 as a hedge fund search and placement firm.
Hutson-Bittone said that the firm is currently reviewing possible underlying managers, but has already made some commitments, including an agreement to invest with two “popular” hedge funds that are closed to new investors.
The fund is targeting registered investment advisors with highnet- worth and institutional clients. It will hold a soft close at $15 million and a final close at $25 million. The minimum investment is $500 thousand and there is a 90-day lockup period.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…