Saturday, 22 November 2014
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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...