Investcorp invests in New York quant hedge fund Kinneret Group

Mony Rueben

Investcorp, a leading provider and manager of alternative investment products, has become the anchor investor in Kinneret Group, a New York-based quantitative equity long/short alternative asset manager.

Investcorp's Seeding Business was launched in December 2004 to provide investors access to select investment talent with the backing of an institutional platform. Through this program, Investcorp can provide initial seed and acceleration capital ranging from $50 to $100 million as well as operational support to emerging managers.

According to the announcement, Kinneret (not to be confused with its namesake, an office lease company also based in New York) was founded in 2011 by MonyRueven, a 33-year industry veteran.

Prior to launching Kinneret, Rueven served as a Managing Director of the D. E. Shaw group, a global investment and technology development firm with more than $37bn in investment capital (as of July) from 1997 to 2000, and again from 2005 to 2011. During the intervening period prior to rejoining the D. E. Shaw group, Rueven founded Springline Capital, LLC, a statistical arbitrage hedge fund, which was later integrated into Knight Capital Group. Over the course of his career, he has also held senior roles at BNP CooperNeff, State Street Bank, Thompson Financial, Jefferies and Credit Suisse First Boston.

Working with Rueven are former D. E. Shaw group colleagues, Dr. Alexander Wang and J. Andrew Lindholm.

The systematic long/short equities fund launched on 1st December, Opalesque was told. Based on expressions of interest, Kinneret anticipates raising $300 million during the fund's launch period.

The strategy seeks to identify long/short securities within the S&P 500, using a differentiated sys......................

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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.