New Managers February 2017

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Charles Smart, who managed Structured Portfolio Managers (SPM)'s Structured Servicing Holdings fund for the past six years, is leading new firm Nara Capital longside former SPM head of global marketing Alex de Calice, reports Reuters. New York-based Nara, which will launch its Nara Capital Master Fund in March with $150m to $200m in capital, will invest in both commercial and residential mortgage-backed securities.

Han Tongli, a former Pacific Investment Management Co. (PIMCO) manager, plans to start two hedge funds focused on fixed-income investments in the first quarter, said Bloomberg. Han, 39, has attracted three strategic investors into his Hong Kong-based DeepBlue Global Investment. The investors will channel a combined $500m into the global and Asia-focused funds. DeepBlue, whose name seeks to invoke the depth of the fixed-income, interest rate, commodity and currency markets, will express macro-economic views by trading such securities.

Ben Melkman, a former partner at Brevan Howard Asset Management, is receiving capital from billionaire Steven A. Cohen for the hedge fund, Light Sky Macro, he plans to start next month with more than $400m under management, according to Bloomberg. Melkman, 37, left Brevan Howard in May 2016.

Former Millennium Capital Partners' portfolio manager Michael Cowley plans to launch equity hedge fund Sandbar Asset Managementlater this year, sources told Reuters. The fund will take a global market neutral approach, and could start with $250m-$300m. ......................

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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.