Ten Hut! Former-Marine Launches Long/Short Hedge Fund

Wesley Gray, a former U.S. Marine Corps intelligence officer in Iraq and founder of Lewes, Del.-based Empirical Finance, has launched his maiden hedge fund.

Gray’s Empirical Search Strategies debuted in September with seed capital from an investor who is “testing” the strategy until Dec. 31, 2009. The investor will then decide whether to make a larger allocation, according to Gray.