Sat, Mar 6, 2021
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Red Cedar announces seeding deal with New Holland Capital

Tuesday, January 12, 2021
Opalesque Industry Update, for New Managers - Red Cedar LLC, a newly formed quantitative investment management firm, today announced a seed investment and strategic commitment from New York-based investment manager New Holland Capital.

New Holland will provide significant trading capital and foundational support to Red Cedar so that it may commence trading operations in May. Terms were not disclosed.

Former Jefferies portfolio managers Alexander Chernyy and Christopher Dean formed Red Cedar in September 2020 to offer a new and innovative approach to solving the problems facing systematic managers. The firm focuses on acquiring new, alternative datasets to capture alpha and deliver a differentiated return stream with low correlation to its larger peers. Red Cedar utilizes a combination of proprietary statistics and raw data to neutralize the impact of common factors, build a diverse set of proprietary risk factors, and achieve idiosyncratic returns.

Red Cedar CEO Alexander Chernyy said: "We are thrilled to have the backing of New Holland Capital as it enables us to begin executing our investing strategy and provides an excellent foundation from which we can scale. There is tremendous opportunity and capacity for us to grow, and New Holland's seal of approval helps us take the first step."

"Red Cedar's uniquely talented management team and differentiated focus on alternative data create an exciting opportunity set for us," said Scott Radke, CEO of New Holland Capital. "We have tremendous faith in Alexander and Christopher and are pleased to partner with them as they grow their offering."

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. SPAC and ESG fads are on collision course with billions at stake[more]

    From Bloomberg: Two of the hottest equity market trends are headed for a clash as some ESG investors are having second thoughts about blank-check firms that have flooded the market. Early signs show that money managers wedded to environmental, social and governance themes are reluctant to buy in

  2. SPACs: Casdin, Corvex are on a SPAC tear, Carvana becomes the darling of hedge funds, YieldStreet explores creating a SPAC of its own, SPAC wave stirs IPO competition[more]

    Casdin, Corvex are on a SPAC tear From Institutional Investor: Casdin Capital and Corvex Management are the latest serial blank-check sponsors.The two hedge fund firms filed plans for their third special purpose acquisition company, or SPAC, just two days after pricing their second one a

  3. New Launches: Vector Group launches new proptech fund[more]

    Vector Group announced the launch of New Valley Ventures, an investment vehicle seeking opportunities in next-generation technologies in the property technology (PropTech) space. New Valley Ventures will invest in promising PropTech startups committed to supporting rapid transformation of the real e

  4. SPACs: Perceptive Advisors lays out the $8bn hedge fund's SPAC strategy, SPAC boom fades as ETFs tracking blank-check firms crater amid risk-off sentiment, Are blank cheque companies surrogates for private equity?[more]

    Perceptive Advisors lays out the $8bn hedge fund's SPAC strategy From MSN: Compared to the average SPAC sponsor, Perceptive Advisors' track record has been phenomenal. Less than a third of SPACs that took a target company public between 2015 and the summer of 2020 generated positive retu

  5. Opalesque Exclusive: ESG factors reflect very serious changes on how dollars will be invested in the future[more]

    B. G., Opalesque Geneva: As reported yesterday, credit rating and research company