22/02/2010 Author: Tony Griffiths

Fink's ISAM forms joint venture with Hite Capital

A new venture between Stanley Fink’s International Standard Asset Management (ISAM) and Hite Capital Management (HCM), the hedge fund firm founded by systematic trading genius Larry Hite, looks set a yield two new funds in the coming months, including a fund of managed accounts.
 
The first fund, ISAM Systematic, is scheduled for April and will be run by Hite. Reports suggest it could eventually manage as much as $6bn. This is to be followed with the launch of ISAM Fusion Fund, the managed accounts product.
     
The strategic partnership sees Fink and Hite united once again following high-profile stints with Man Group, the world’s largest listed hedge fund manager. Fink, who was Man’s chief executive, left three years ago to form hedge fund firm ISAM, while Hite is credited with pioneering the systematic strategy used by Man’s AHL division. Hite retired from active fund management in the mid 1990s.
 
As part of the ISAM-Hite alliance, Larry Hite, Alex Greyserman, and Gilbert Lee will join ISAM as shareholders and directors.
 
Man Group, which oversees $42.4bn in AuM, purchased half of Hite’s first hedge fund, Mint Investment Management, in 1983, using the fund’s systematic recipe to part power its AHL pro