Edward Feigeles joins WR Capital management team
Edward Feigeles, has joined Knight Capital alumni Walter Raquet and John Cunningham as a principal in their managed accounts shop, WR Capital.
Feigeles, former managing director and head of Lehman Private Client Group, joins both executive management and investment committees, and will spearhead the marketing effort for the firm's 1 July launched WR Managed Account Fund, which now contains USD 72 million of investments with 31 underlying managers.
The WR Managed Account Fund was formerly known as the WR Emerging Fund I. Its name was changed to emphasize its separate or managed account format, providing the fund with transparency on investment positions, which the firm's in-house risk manager, Michael Cohn, formerly of Merrill Lynch's private-client group, monitors in real time.
The fund's 31 underlying managers have an average of three years' hedge fund experience each, with typical portfolios between USD 20-USD 50 million. Strategies include mainly long-short equity hedge with some volatility arbitrage, CTAs and distressed. The fund offers monthly liquidity to investors, with plans to offer daily liquidity in the near future.
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