Wednesday, 23 July 2014
Last updated 50 min ago
Oct 20 2006 | 8:30am ET
A new alternatives firm founded by a trio of Wall Street veterans is preparing to launch its first hedge fund, a multi-strategy offering, on Jan. 1.
New York-based Actium Capital Management was founded by Justin Brownhill, a former managing director in Citigroup’s equity department, David Solomon, formerly a Goldman Sachs executive, and ex-New York Mercantile Exchange Chairman Vincent Viola. The latter two already work together as managing partners of Beverly Hills, Calif.-based proprietary trading firm Madison Tyler.
According to Brownhill, the Actium Absolute Return Fund will invest in commodities, derivatives and equities, using quantitative and high-frequency strategies. The fund will invest with outside managers and use proprietary models, in addition to in-house managers, focusing on low risk, low volatility and beta-neutral returns.
“We are looking for the very best trading strategies, whether they are proprietary, in-house or external parties that fit our style and trading acumen,” Brownhill said.
Brownhill said the fund will charge “standard fees,” though he added that “some of the management fees might be a touch higher,” as the fund will be using extensive proprietary trading technology and risk management systems.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…