New Star has recruited Robin White to run a hedge fund investing mainly in property securities for launch in Q4 2007.
White will join New Star in September 2007 from Rock Capital. He has been investing in property securities on a long/short basis for eight years and has managed the Rock Real Estate Securities fund since its launch in July 2006. The fund has produced an annualised return of 22% to 31 May 2007 with no negative months.
The launch is the latest of a number of new initiatives from New Star’s alternative asset business. These include fund raisings of more than $550m for two hedge funds launched during the second half of 2006, rationalising the range of single strategy hedge funds and the launch of a fully-invested private equity fund of funds.
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