New Managers October 2014

Seeders' Corner: New backing deals

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New York-based hedge fund startup Raveneur Investment Group has signed up investment giants Blackstone Group LP and Pacific Alternative Asset Management (PAAMCO) as clients, according to Reuters. The fund has received $150 million from PAAMCO and is slated to receive $200 million from Blackstone.Raveneur's founder and hedge fund veteran Mark S. Black, who previously worked at Tricadia Capital Management and Eton Park Capital Management, focuses his portfolio on Europe's sputtering recovery as well as event-driven opportunities in the United States. The firm plans to have between 20 and 35 names in its portfolio at a time and hold its investments between one and three years.

KKR & Co. is said to have sealed its first Asia hedge-fund partnership backing a startup by the former regional chief of York Capital Management LP, according to BusinessWeek. FengHsiung's Hong Kong-based Acion Partners Ltd. will start a pan-Asia event-driven hedge fund in the first quarter of 2015, investing in equities and credit. New York-based KKR will take an unspecified minority stake in Acion as part of the broader partnership.

Hal Lehr, a former Deutsche Bank AG and Soros Fund Management LLC trader, received backing from JPMorgan Chase & Co.'s asset management unit to start a New York hedge-fund firm, reports Bloomberg. The firm, to be named Aithon Capital, is scheduled to start in January with JPMorgan investing about half its initial $100 million of capital. The global macro fund may have a focus on commodity trading and JPMorgan can boost its investment to as much as $500 million. Seeder sees convergence between alternative and traditional managers through exclusive partnerships Jeroen Tielman

As founder of the IMQubator seeding platform, Jeroen Tielman has seen the industry change and new models dev......................

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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.