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Bailey McCann, Opalesque New York: A team of former Peak6 managers have put together a new twist on the fund of funds model and their flagship offering has just reached its three year milestone.

Gary Selz and Kris Gilboy, co-founders of Zero Delta first met at Peak6 when they were working in hedge funds and proprietary trading. Both men worked with teams on various options based strategies including volatility strategies. Selz tells Opalesque New Managers that after he left Peak6 in 2016, he was looking to continue investing in interesting options strategies but wasn't finding much at bigger hedge funds shops.

"The most interesting ideas were coming from smaller managers, niche managers," Selz says. "Often these strategies are capacity constrained and so they get overlooked by the pods and some investors."

Gilboy eventually joined Selz and they started investing with these smaller managers and doing well. Based on discussions with other investors, the men saw a demand in the market for a product that could identify and invest in high performing options strategies from these smaller managers. The fund of funds launched in 2021 with friends and family money and after building a track record has opened to outside investors.

"Zero Delta' is an expression often used in the derivatives world to describe a portfolio that has no beta and is not reliant on market direction in order to profit. Zero Delta's fund of funds looks for proven but often undiscovered ......................

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