Fri, Nov 15, 2019
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Melanion Capital hires hedge fund manager Dan Costinescu through seeding program

Tuesday, October 22, 2019
Opalesque Industry Update, for New Managers - Melanion Capital, the Paris-based independent alternative investment management company, has appointed Dan Costinescu as a portfolio manager. Mr. Costinescu, who has been actively involved in alternative asset management since 2005, will be managing a quantitative-based fund focusing on exploiting micro-structural imbalances in the commodity futures markets.

Melanion is providing the initial seed capital and plans to launch the fund at the beginning of next year.

The new Melanion Systematic Macro Fund will be the third Melanion Capital fund following the flagship Melanion Dividend Fund launched in 2013 and the Melanion Volatility Fund launched in 2017.

Dan Costinescu, who joins Melanion Paris via the firm's ongoing seeding program launched in April, was selected from hundreds of applicants. "The standard was very high and attests to the profusion of interesting and exceptional talent out there," said Antoine Iskandar, CIO of Melanion Capital.

"We have very high hopes in Dan, and equally high hopes that our commitment to our seeding program will continue to identify equally exciting managers into the future," Iskandar added.

Costinescu holds a Masters in Financial Mathematics from Stanford University and began his career as a quantitative analyst before joining Hite Capital Management (New York) in 2009. He subsequently developed a series of non-correlated, systematic commodity futures strategies that were used to diversify investment portfolios at Hite, ISAM and Welton Investment Corp prior to joining Andurand Capital, London to manage a systematic $50m commodities fund.

"The strategy I will be working with focuses on identifying mispricing and dislocation across the term structure of the commodity futures markets. It targets opportunistic risk rewards, independent of the markets' direction by utilizing fundamental and behavioural factors. The strategy aggregates via statistical and machine learning techniques to explain investors behavior over the short and medium term." said Dan Costinescu.

"While this approach has a capacity constraint, other shorter-term futures strategies will be added to the portfolio with a target to increase capacity to $500m and at maintaining returns uncorrelated with CTAs norm", he added.

"The Melanion Seeding Program was established to allow talented managers to fulfill their true potential which may often be constrained by the high costs of going independent," said Iskandar. "The Program is characterized by the fact that we're happy to engage with niche strategies which are not overlooked by institutional investors. We are very pleased to have attracted a portfolio manager of the calibre of Dan Costinescu and look forward to offering his first fund to HNW investors."

"Our work to discover and attract managers continues," Iskander added. "We're open to all approaches but would ideally like to focus either on event-driven, merger arb or high-frequency strategies for the next seeding round."

Managers are invited to apply at managers@melanion.com


Press release
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. PE/VC: Private equity is the new stock, Private equity fundraising in the US hits all-time high, Foreign private equity firms lead $152bn blitz on London Stock Exchange[more]

    Private equity is the new stock From Institutional Investor: The traditional portfolio of stocks and bonds needs an alternative investment shake-up after failed monetary policy, according to executives at JPMorgan Chase & Co.'s asset management unit. "We are in an odd cyclical posit

  2. Opinion: Cliff Asness: It's 'time to sin'[more]

    From Institutional Investor: Timing the market can be "deceptively difficult," as quantitative investor Cliff Asness has pointed out before. But now, the AQR Capital Management co-founder believes that while factor timing is "an ugly thing," it is "about time we did some" - specifically when it com

  3. Investing: Hedge fund Whitebox places big bet on gunmaker Remington, Quant funds exit Japanese bonds in worst sell-off since 2013[more]

    Hedge fund Whitebox places big bet on gunmaker Remington From Reuters: Whitebox Advisors LLC, a credit-focused hedge fund, has been quietly capitalizing on Wall Street's ambivalence toward gun manufacturers by replacing some banks as a lender to Remington Outdoor Company. Whitebox

  4. Tech: Investors race to tech start-ups despite SoftBank stumbles, Two Sigma launches risk management software[more]

    Investors race to tech start-ups despite SoftBank stumbles From FT: Investors are planning to pour billions more dollars into later stage tech start-ups, even as Japan's SoftBank reels from a succession of faltering bets. Stephen Schwarzman's Blackstone plans to raise between $3bn and $4b

  5. Regulatory: Carried interest tax rules slated for 2020, official says[more]

    From Bloomberg: The Treasury Department is planning to issue regulations restricting how hedge fund managers can claim a valuable tax break early next year, a top Treasury official said. The regulations will likely bar money managers from using S corporations to take advantage of an exemption