Opalesque Industry Update, for New Managers - Tarpon Trading LLC, a global macro FX manager launched its currency trading program on the Horton Point incubation platform, in mid-June.|
Tarpon is run by J. Stephen Theall, a 20-year veteran of quant FX and global macro trading at such marquee firms as Tudor Investment Corp, Caxton Associates and Millennium Partners. Tarpon has a 3-year track record and currently runs over $50 million in institutional managed accounts. It is ranked # 2 by Sharpe ratio out of more than 200 managers on Deutsche Bank’s DBSelect platform.
Horton Point is providing acceleration capital, investor relations and operational infrastructure to assist Tarpon with its strategic development.
“Tarpon is a very attractive candidate for our platform”, said Horton Point CEO Dimitri Sogoloff. “As an emerging manager, the firm has been under the radar screen of many institutional investors. We are changing that”, he added.
Tarpon specializes in intra-day trading of highly liquid spot currencies. The strategy has been developed by Mr. Theall over the period of 25 years and employs a price pattern recognition model to identify intra-day anomalies in the currency markets. It trades most liquid G-10 currencies.
“This is a very synergistic relationship which will allow me to concentrate fully on the investment process and research, and worry less about operational and other business issues”, said Steve Theall. “Horton Point has a highly developed infrastructure which has been battle-tested since 2006, and the expertise of its management team is highly complementary to our alpha generation skills.”
As part of the relationship, Horton Point is launching a single manager fund, Tarpon Global Macro, under its master-feeder umbrella, and is including the strategy in its own multi-manager vehicle offering, the Soundview Emerging Managers Fund I, L.P.
Horton Point LLC runs an emerging systematic manager incubation platform. It recently launched the Soundview Emerging Managers Fund to provide seed/acceleration capital for up to 20 external managers. Tarpon joins three other systematic firms currently on the platform. All managers specialize in short-term trading strategies in highly liquid markets.
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