Soros, Permal Vets Launch Global Macro Fund

Feb 6 2009 | 12:00am ET

Joshua Berkowitz, a former portfolio manager at Soros Fund Management, and Richard Cordsen, a former regional director for the Americas at the Permal Group, have teamed up to launch the Woodbine Capital Fund.

The New York-based global macro offering made its debut last month with $200 million and finished its first month of trading up 1.2%, according to an investor with knowledge of the firm’s maiden fund. That investor says the fund is scalable, given Berkowitz’s history of managing $1 billion plus for Soros’ global macro portfolio. Berkowitz’s resume includes stints at SAC Capital Advisors and Goldman Sachs.

The fund charges a 2% management fee and a 20% incentive fee with a $5 million minimum investment requirement.

It has quarterly liquidity with 30 days notice. 

The firm currently has five partners including Marcel Kasumovich, currently director of research and strategy and formerly of Soros and Goldman.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.