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NewAlpha AM makes 14th strategic investment in G Capital global macro fund

Friday, June 04, 2010
Opalesque Industry Update - NewAlpha Asset Management, a French alternative investment specialist, announced its 14th strategic investment in the G Capital Fund managed by G Capital Management, LLC.

The G Capital Master Fund implements a discretionary Global Macro strategy across global rates, foreign exchange, liquid commodities and developed market equity indices through a combination of extensive macro markets experience and advanced quantitative and fundamental analysis capabilities.

Based in New Jersey, G Capital, LLC is a 100% employee-owned investment management firm founded in 2009 by Peter C. Gerhard, a former partner, Managing Director and senior trading manager at Goldman Sachs & Co. Peter spent his entire career at Goldman Sachs from 1983 to 2006, and was named a partner in 1994. Peter actively traded and managed risk allocations across the global macro proprietary trading businesses at Goldman and also held a number of senior leadership roles including FX and Money Markets as Global Head, Emerging Markets and Global Rates as Co-Head until his retirement in 2006. Peter was a member of Goldman Sachs Firmwide Risk Committee and also a member of the Operating Committee of FICC.

Peter is joined by a number of other GS alumni as senior principals at G Capital. They include Mel Gunewardena, a Goldman alumni (1994-2006), a former GS Managing Director, where he was responsible for building and globally leading the Fixed Income and FX Prime business. In 2006, Mel moved to Deutsche Bank’s Global Markets Division as a Managing Director and Global Head of the Fixed Income and FX Prime Brokerage business prior to teaming up with Peter in 2009. Also joining Mel and Peter is Ian McDonald, another Goldman alumni (1998-2007) and former Managing Director. Ian was a key member of the Strategies group within the Fixed Income Currency and Commodity Division and the head of Macro Strategies at Goldman Sachs. Ian has a strong background in quantitative and market research and trading strategies in macro markets. In addition, the firm also has James J. Solano, who started his career at BT Alex Brown in 1993 before spending 9 years at Deutsche Bank as a Director to 2008 in the Institutional Client Group. Jim has extensive expertise in working with middle market, institutional and high net-worth clients.

The G Capital Fund is currently managed by a team of 3 seasoned investment professionals led by Peter Gerhard. Additionally, a number of very senior hires are under way to expand the portfolio management capabilities. The firm’s key principals have all proven track records in business building and leadership and have complementary skills. In addition, the senior principals have all worked closely together over many years through their experiences at Goldman Sachs.

The Fund was launched in January 2009 and now has more than $100 mm in assets under management. It has delivered more than 21% net in 2009 and is already +5.5% as of end of May 2010 including +65bps in May when most hedge funds are reporting losses.

NewAlpha will invest in the G Capital Fund through its current alternative investment vehicle, a closed end fund dedicated to institutional investors seeking exposure to early stage managers. To meet rapidly growing investor demand for such an ’alternative’ to hedge funds and funds of hedge funds’, NewAlpha is preparing the launch of another investment vehicle with an AUM target of $ 250 mn for the second half of 2010. Corporate website: www.newalpha.net

- FG

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