Horizon Readies To Launch Hedge Fund

Oct 31 2006 | 11:09am ET

Horizon Asset Management is set to launch its latest hedge fund tomorrow with $25 million in assets under management.

The new offering, the Protostar Master Fund, is being managed by CEO Murray Stahl, who will invest with a long-term time horizon in securities that he believes the market has undervalued, employing puts and calls in an effort to keep volatility low.

The new fund has an onshore and an offshore version. Fees are 1% for management and 20% for performance. The minimum investment is $500,000.

Morgan Stanley is serving as the prime broker, Goldstein Golub Kessler as the auditor, and Mayer Browne Rowe & Maw as legal council.

In addition to the new offering, Stahl also manages the Polestar Fund, a concentrated long/short fund which was launched in January 2003, as well as several other strategies.

New York-based Horizon Asset Management was founded in 1994 and has approximately $7 billion in assets under management.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...