Former Framlington CIO Neil Birrell and chief executive Mike Vogel have set up in hedge funds and ha...
Former Framlington CIO Neil Birrell and chief executive Mike Vogel have set up in hedge funds and have launched a fund of hedge funds focused on emerging managers running relative-value, event-driven, equity long/short and global macro portfolios.
Elcot Capital Management launched on 15 December and made initial investments in January. The two managers and former head of research at Brinson, Nick Measham, are each invested in the open-ended vehicle listed in Dublin and domiciled in the Cayman Islands. All three partners in the business are responsible for picking managers and constructing the portfolio.
Birrell said his strength is understanding the individual fund managers. Vogel's expertise is assessing the hedge fund businesses whose products Elcot is considering investing in. He added Measham can provide the statistical and analytical resources to aid portfolio construction.
Birrell said: "We are looking at investing in young, new or relatively new managers. It is not about long-only managers who want to run long/short equities. It is the people who are working for the very big hedge funds, who have built up a big track record and who are now looking to set up on their own – setting up funds with maybe $20m-$30m."
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