New York Firm Launches Emerging Markets Fund

Jan 14 2009 | 12:41am ET

New York-based Triogem Asset Management has launched a global emerging markets long/short hedge fund with just under $30 million of seed capital from a multi-billion dollar U.S. institutional investor.

The firm was founded in April by partners Timothy Seymour, formerly of Red Star Asset Management, and Diego Parma and Walter Stoeppelwerth, from Tiedemann Investment Group. The Triogem Long/Short GEM Fund does not have a geographic focus but will be active in Latin America, Eastern Europe, the Middle East and North Africa, according to Seymour.

It may not seem an opportune time to offer an emerging markets fund, with the strategy taking a beating last year—most indices rate it the worst performer of the year, with losses in the 30% range. But Seymour says the firm is confident it can leverage the partners’ experience to the benefit of investors.

“We’ve all been in the emerging markets for the last 15 years or so and our goal is to build a firm that can take advantage of not only our experience and relationships in these markets but to bring forth a strategy that is much more low volatility, with an opportunity to make money in both the long and short books,” he said.

Seymour said the firm is sees both long and short opportunities in large companies throughout the emerging space.

“Clearly, some of the biggest companies in emerging markets are very interesting on a valuation basis,” he said. “Others face major challenges on the cried side with balance sheets that may continue to come under pressure.”

Seymour said while investors may be a little gun-shy in reupping with emerging markets hedge funds, Triogem’s new offering differs from its competitors, offering a high degree of liquidity. “Our expectation is that 80% of our portfolio is going to be in stocks that we’re going to be able to liquidate in one day,” he said.

The fund charges a 2% management fee and 20% incentive fee with a $250,000 minimum investment requirement.

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