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New Managers August 2019

BULLETIN: Structural Alpha Holdings launches to offer hedge funds permanent capital solutions, 86 new hedge funds launched in 2Q 2019

 

Taussig Capital is launching a new vehicle - Structural Alpha Holdings. Structural Alpha Holdings builds on Taussig Capital's expertise advising hedge funds on how to create banking, insurance, and reinsurance companies to generate permanent capital. Structural Alpha Holdings is a holding company targeting $100 million to seed up to 30 insurers, reinsurers, and banks that will offer specialized products paired with alpha generating investment strategies. The resulting companies will generate permanent capital and fees for managers and investors. Investors in Structural Alpha Holdings will have access to the full portfolio of startups. Founding investors up to the first $10 million will also own part of Structural Alpha's management business. Structural Alpha Holdings is led by Taussig Capital founder and CEO Joe Taussig, along with Matthew Graves and Paul Hamill. Graves was previously CFO of Tau Investments, a private equity firm. Hamill held several roles at Citadel and was previously Global Head of Prime Brokerage at HSBC. According to Mr. Taussig, permanent capital vehicles similar to what David Einhorn has with Greenlight Re, Greenlight Capital's reinsurance arm, have generated hundreds of millions of fees for hedge fund managers that wouldn't be accessible through a traditional fund or separately managed accounts. Hedge fund managers will be able to work with Structural Alpha to create their own permanent capital solution. “We were already building these relationships on an ad hoc basis,” Taussig said in an interview with Opalesque . “We think the demand is there to do something with a structure around it that will enable investors to participate without having to take on individual startup risk.” Taussig Capital has developed several proprietary insurance, banking, and reinsurance product strategies for the companies that will be seeded through Structural Alpha Holdings. The firm is now seeking investment managers to pair with those produc......................

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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.
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