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New Managers February 2014

NEW LAUNCHES: Latest and announced maiden fund launches

 

Bankers and lawyers believe 2014 will be very busy for launches

A host of notable hedge-fund startups are expected to begin operating in 2014, each with at least $500 million-and in one case $2 billion-to invest. Bankers and lawyers who work with such funds told the Wall Street Journal this is likely to be the busiest year for launches since the financial crisis.

The Journal cites Mr. Parsons, who was a top portfolio manager at Viking and who launched Junto Capital Management LP Jan. 1 in New York with roughly $500 million; Yen Liow(formerly of Ziff Brothers Investments, a multibilliondollar firm that is shutting down its internal hedge fund), who raised more than $1 billion for his global stock-focused hedge fund Aravt Global, which started trading this month in New York; Mr. Wagner, the co-portfolio manager at Baupost with founder Seth Klarman until he left in 2012, whose Boston-based Finepoint Capital LP is expected to launch in May with $2 billion, including a significant investment from Mr. Wagner himself; and Paritosh Gupta, who for eight years was a managing director at $3.5 billion hedge-fund firm Brahman Capital Corp., and who this month started his own fund focused on the outcomes of mergers, acquisitions, spinoffs and management changes.

"It's a leap of faith, but you're betting on yourself," Mr. Gupta, 35, who started stock hedge fund Adi Capital Management LLC in January with $120 million ($100 million of it from Chicago-based Aur......................

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