Mon, May 2, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

FRM Capital Advisors enters strategic relationship with Varna Capital

Wednesday, July 28, 2010
Opalesque Industry Update - FRM Capital Advisors, the hedge fund seeding division of Financial Risk Management (FRM), and Varna Capital LLC (Varna) have formed a strategic relationship which involves FCA making a significant investment in Varna’s first fund.

Varna is a newly formed hedge fund manager based in New York and headed by Svetlana Lee. Svetlana, together with the Varna team,previously managed an equity long-short fund at Citadel’s PioneerPath new manager platform. Prior to that she gained extensive investment experience at leading hedge funds Greenlight Capital, The Baupost Group and Perry Capital. Varna will implement a value-focused, equity long-short strategy that seeks to exploit event-driven situations, structural market dislocations and identify hidden fundamental business value.

Clive Peggram, CEO of FCA, stated, “The long-term performance characteristics of fundamental equity long-short strategies are very attractive, and we look forward to bringing this opportunity to our investors. We believe that the current market is an attractive environment for this strategy and the prospects will remain strong for the foreseeable future. Svetlana is one of the most talented new equity long-short managers in the industry and we are very pleased to form a strategic relationship with her new firm and to support its development.”

Svetlana Lee, Managing Principal and Portfolio Manager of Varna, stated, “A firm’s anchor investors are a critical element to a successful launch. FCA is a well respected institutional firm and its significant day one investment will provide us with a strong foundation to launch and grow.”

Following the signing of the strategic relationship, Varna is expected to launch its first fund during the fourth quarter of 2010.

Varna represents FCA’s sixth strategic investment since it began investing in 2008.


FRM Capital Advisors is a division of Financial Risk Management (FRM), a global fund of hedge funds group managing approximately $8.5 billion worldwide for institutional and other sophisticated investors. FCA manages a seeding fund which makes strategic investments in emerging alternative investment managers. www.frmcapitaladvisors.com.


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n