Sun, Mar 29, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers May 2013

Profiles - Stone Toro and Varden Pacific talk about their funds

Jeffrey Russo

Stone Toro Asset Management LLC, an asset management firm based in Princeton, New Jersey was formed at the end of 2009 by three ex-Merrill Lynch colleagues, Mike Jarzyna, Jeffrey Russo, and Richard Jenkins. Jarzyna and Russo were also directors at BlackRock, and Russo, the PM, managed more than $14bn in AUM as a Director there.

Their fund, the ST Alpha Event Fund, which was launched in January 2011, is an absolute return fund using a global multi-strategy approach to eventdriven arbitrage. It manages around $146.9m and is up 0.92% YTD (to March), after returning +2.5% in 2012 and +1.18% in 2011. It is also featured in Opalesque's EManagers database.

Jeff Russo actually started trading his strategy while at Bankers Trust in the mid-90s, where he served as portfolio manager of global developed and emerging market index funds with assets over $4bn (Bankers Trust at the time was the third largest index manager in the world, managing around $200bn worth of index related assets).

Russo defines "event" as things that are tangibly happening in the market. "So we like to look at where the world is, as opposed to the way we hope it to be or wish it was," he tells Opalesque.

The ST Alpha Event Fund has four distinct strategies, namely: index events, merger arbitrage, structural changes (or special situations, corporate actions) and relative value pairs.

"That's actually something that I think is a really attractive part of the strategy is the breadth of the index world and how the markets have changed over time," Russo explains. "The markets have become very passive with the emergence of ETFs. As active management on the mutual fund side has decreased in size, possibly due to active managers' long-term inab......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner