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Alternative Market Briefing

Hermes PBK, Northern Light’s Accelerator Fund makes first investment in New York hedge fund Taurasi Capital

Thursday, March 21, 2013

Benedicte Gravrand, Opalesque Geneva: - In September 2011, Northern Lights Capital Group, LLC, an $11bn private equity firm based in Seattle, and Hermes BPK Partners LLP, a $1.6bn fund of hedge funds based in the UK, set out to launch a new investing platform that would provide access to early stage hedge fund managers for institutional investors.

We heard no further news of the so-called Accelerator Fund until yesterday, when a couple of media reports announced a first investment. The Fund, which according to PIonline.com has about $250m in opening assets, invested in Taurasi Capital Management, a new fundamental long/short credit hedge fund based in New York. The invested amount was not disclosed.

Taurasi was launched by a former UBS O’Connor credit trader called Mark Melchiorre in September 2012 with around $100m (UBS O’Connor LLC, the bank’s $6bn hedge fund unit, is reportedly experiencing staff problems at the moment). One of Melchiorre’s partner is Charles Leone, who used to work at Caceis (formerly Olympia Capital) and is now the CFO of Taurasi. According to ......................

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