Ex-Hermes Manager Preps Long/Short Euro. Fund

Feb 20 2009 | 2:00am ET

Marco Ricci, the former chief investment officer of the Hermes European Focus Fund, is readying a long/short European hedge fund with an activist bent to debut sometime in May.

Marinvest One primarily invests in liquid European shares. Ricci said the fund will analyze stocks with market capitalizations between €1 billion (US$1.3 billion) and €20 billion (US$25.2 billion) from the bottom up to analyze their trends and earnings potential.

“There are plenty of attractively valued stocks, even in this market,” he said. “I have been through bear markets before, and ultimately stocks with strong fundamentals will perform. The purpose of our fund is to identify those companies and control the volatility of our investments through a hedging overlay to isolate the long-term alpha.”

In addition, Ricci said Marinvest One intends to engage in shareholder activism in an institutional and relational way, rather than an outright acrimonious way.

“There are companies where the view of shareholders, if properly formulated, can be very valuable to managers who have been taken by surprise along with everyone else by the market turns,” he said.

The fund is currently housed on PCE Investors’ platform, which has US$1.6 billion in assets across 21 funds and 15 teams. Ricci is looking for seed investors for his new offering and is willing to negotiate “significant benefits” for seeders such as access to future capacity and possibly equity in the hedge fund.

Prior to Hermes, Ricci was a European fund manager for Morgan Grenfell (Deutsche Asset Management) in London.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.