Does loyalty lie with the lawyer or the law firm?
Big changes were afoot in the London hedge fund legal scene last week, after New York-based Akim Gump swooped on Simmons & Simmons
08/09/2010
Charter Bridge launches its maiden hedge fund
Brian Zied, most recently a partner at Maverick Capital, has set up his maiden hedge fund, which will debut in October.
After forming New York-based Charter Bridge Capital Management, the flagship Charter Bridge Capital Partners onshore and offshore funds will launch with both internal capital and global institutional commitments. According to a source familiar with Zied’s plans, the fund will implement a global long/short equity strategy with an emphasis on consumer-related companies with market capitalisations of $500m and over. It holds 25 positions on average on both the long and short sides.
Zied worked at Maverick Capital from 1998 until April 2010 as a retail/consumer sector head. Previously, he covered retail and consumer stocks at Omega Advisors from 1995-1998.
For Charter Bridge’s launch, Zied hired six other employees, including three analysts, a COO/CFO, and a business development/investor relations head.
The fund has a $1m investment minimum, 1.5/20 fees and a one-year soft lock-up. Goldman Sachs is the prime broker.
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Editor's view: 8 February 2012
Speculative moves, a perceived landgrab and a potential bidding war in the hedge fund sector have all opened up in recent weeks
Comment: Julian Korek
"Advisers need to be analysing key considerations and determining where they fall in the spectrum of SEC registration; no easy task given the scope of the legislation"
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