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Opalesque Exclusive: Akasha Capital to launch l/s fund with former K Capital co-founder at helm
From Kirsten Bischoff, New York: Opalesque has learned that Thomas A. Knott, CFA will be the Portfolio Manager for a new fund with a target launch date of June 1st. Mr. Knott was formerly with The Baupost Group (Seth Klarmen’s firm) and was a co-founder of K Capital, a value-oriented hedge fund focused on European and North American investments.
The strategy which aims to launch with approximately $500m AUM will be run with a value philosophy, long/short across the capital structure, investing opportunistically. The portfolio will have three sub-strategies: long/short equity, special situations, and credit strategies (including stressed and distressed debt). Investments will be made into one of two share classes, one of which will offer a 1-year lockup (soft) with quarterly liquidity and management/performance fees of 1.5%/20%; the other which will offer a 3-year lockup (hard) with management/performance fees of 1.5%/17%. He will run the fund through the newly formed, Boston-based Akasha Capital. Morgan Stanley is prime broker and Globe Op the fund administrator.
Stenham launches Global Resources Fund
Stenham Asset Management has launched the Stenham Global Resources
Fund which it has been running internally since July 2006. The fund’s primary focus is nonenergy
related sectors su...................... To view our full article Click here
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