Capital Z Investment Partners, LLC has announced a new investment with New York-based investment management company AJB Capital Management LP.
Founded in 2004 and managed by Abraham Bronchtein, AJB focuses on equity long/short strategies.
"Our investment in AJB represents an attractive opportunity to partner with Abe Bronchtein, a highly experienced public market investor and veteran manager of long/short equity portfolios," says Laurence Cheng, Chairman and CEO of Capital Z.
He adds: "With experience at premier hedge fund operations including Glenview Capital, Troubh Partners and Omega Advisors, Abe brings to AJB a well-honed investment and risk management philosophy in addition to a defined vision for the growth of the business."
Bronchtein adds: "The constant shifts in the global economy present substantial opportunities for long/short strategies with a research-intensive investment approach. AJB seeks to identify investment candidates that are experiencing significant change as a result of scientific developments, modifications of regulations, business process innovations, corporate restructurings or the emergence of new markets. Having managed portfolios across multiple business cycles during my career, I am excited to apply the investment lessons of the past in building AJB. The investment by Capital Z as a strategic partner in AJB will serve to further strengthen the firm and help accelerate the growth of our business."
Prior to founding AJB, Bronchtein was with Glenview Capital Management. Bewteen 1997 and 2002, he was the research partner at JBT Capital (known as Troubh Partners) and from late 1994 to early 1997, he was a partner and senior portfolio manager at Omega Advisors.
AJB's prime broker is Goldman, Sachs & Co, the administrator is Goldman Sachs Administration Services Co, and the accountant is Goldstein Gollub and Kessler, LLP.
Background notes: Established in 1998, Capital Z is one of the largest dedicated institutional sponsors of alternative asset managers, with USD2.25 billion under management. Capital Z focuses on sponsoring next-generation hedge fund, structured product and private equity fund managers. Over the last year, Capital Z has also invested in three hedge fund management businesses including: Sanctum FI, LLP, a London-based fixed income relative value hedge fund management firm; BTN Partners, LLC, a quantitative long/short market neutral hedge fund management firm; and Cedarview Capital Management, LP, a long/short high yield credit- oriented hedge fund management firm.
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