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
Ex-ClariVest analyst launches maiden fund
Chris Huffman, formerly an equity analyst at ClariVest Asset Management, has launched his maiden hedge fund, HFMWeek has learned.
Huffman formed San Francisco-based Rincon Hill Capital to roll out RHC Partners Fund I, a long/short emerging markets-focused strategy.
The fund, which launched with less than $20m of internal capital and commitments from high-net-worth individuals, invests in 28-29 defined emerging markets and currently has under 100 positions, but is targeting upwards of 140.
Additionally, the portfolio will invest in American depositary reciepts (ADRs) and take short positions domestically.
Erik Haus, COO, said he and Huffman decided to debut an emerging markets fund, because, “in spite of the difficult fundraising environment, there is no better time to launch an emerging markets-focused fund. Their growth and inefficiency make the emerging markets the best place to be investing now.”
Initially, RHC Partners Fund I has a $100m capacity which will grow to $500m over the long term.
The fund has a $100,000 investment minimum, 1.5/20 fees and a one-year lock-up with quarterly liquidity. Lazard Capital 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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Agecroft Partners is seeing widespread demand from institutional investors for Commodity Trading Advisors (CTAs), which is a dramatic change from the historical reluctance of many institutional investors and their consultants to allocate to this strategy.
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