Alliance

EquityStar forms alliance with J.P. Morgan Securities

Traditional and alternative asset manager EquityStar Capital Management has formed an alliance with J.P. Morgan Securities for brokerage, trading and custodial services.

EquityStar Capital Management is a multi-strategy investment and wealth advisory firm created to provide traditional and alternative asset management exclusively for institutional investors, retirement plan sponsors and certain qualified individuals.

Its fund will trade in the universe of the 1,500 most liquid global companies and is open to new investors.

By reinvesting some of the firm's profits into African economies, EquityStar will help give citizens of emerging nations the confidence to reinvest in their own economy by helping to open up their markets to free trade and encouraging foreign capital.

EquityStar's equity long/short strategy will aim for returns of 25 to 35 per cent while attempting to keep volatility between seven and ten per cent. The market neutral strategy will attempt to hedge most of the general market risk and volatility out of the portfolio. The fund expects to raise USD50m by September 2010, with a target of USD100m or more by year end. Capacity of the fund is expected at USD1.5bn.

EquityStar was formed as a master feeder structure to accommodate US, non-US and US tax exempt investors. Steven Zoernack is the managing partner and chief investment officer of EquityStar and serves as portfolio manager for the fund.

"The 2008 -2009 market deleveraging left many pricing dislocations within the capital structure. As a result there are multiple opportunities to capitalise on mispriced assets. Much of the global equity, debt, currency and commodity markets still retain valuable relative value and unique opportunities," says Zoernack.

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