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

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note