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The top hedge fund managers and service providers in North America, as voted for by the readers of Hedgeweek…
Best Long/Short Equity Manager – CCI Technology Partners
Best Market Neutral Fund Manager – Phalanx Capital Management LLC
Best Relative Value Fund Manager – Titan Capital Group
Best Credit Fund Manager – Third Eye Capital
Best Distressed Securities Fund Manager – Avenue Capital Group
Best Convertible Arbitrage Fund Manager – Mohican Financial Management LLC
Best Managed Futures (CTA) Manager – Dunn Capital Management LLC
Best Fixed Income Manager – Rimrock High Income Plus Master
Phalanx Capital Management LLC is a Chicago-based hedge fund firm running approximately USD93million in AUM. The firm manages a market neutral volatility multi-strategy fund that invests in Japan, Asia ex-Japan and Australian markets; launched in April 2005, it currently has around USD56million in AUM.
Christopher S McGuire (pictuured), CEO and CIO, manages the trading of the Japanese and Asian portfolio. Prior to establishing Phalanx, McGuire managed the Japanese multi-strategy portfolio for Daiwa Securities America. McGuire has over 17 years experience in the Japanese and Asian markets. Masahide Hoshi is senior portfolio manager and operates out of Phalanx’s Hong Kong office.
CEO Bill Mulligan (pictured) founded US regulatory advisory firm HedgeOp Compliance LLC in 2001, since when it has built a reputation for servicing its clients – large and small – in a comprehensive, proactive manner. Its team of about 50 in the US have a wide array of hedge fund, legal and compliance experience, not to mention IT software development experience. Earlier this year, HedgeOp combined forces with IMS out of London and now has a combined team of about 100 working at offices in New York, Boston, San Francisco and London.
HedgeOp Compliance has built its business model on three
Toronto-based Third Eye Capital was established in 2005 by Arif N Bhalwani and Dr David G Alexander with their own capital and a CAD300million mandate from one of Canada’s largest pension funds.
The firm originates and manages privately negotiated secured loans to predominantly Canadian small- to mid-cap companies that are unable to access credit from conventional sources.
In 2008, it launched the Third Eye Capital Credit Opportunities fund, an umbrella fund that allows non-Canadian investors to benefit from the firm’s specialised expertise in direct lending. Investments made by the Fund require a high degree of analysis and due diligence
Agecroft Partners specialises in consulting and third-party marketing for the alternative investment industry, with a particular focus on hedge funds. The firm raises assets globally for institutional-quality managers by utilising a consultative approach within the institutional investor community. Its approach is to develop in-depth product knowledge of the funds the firm represents and to be able to articulate their investment processes as well as the hedge fund managers.
Agecroft was founded by Don Steinbrugge (pictured), who has 27 years of experience in the institutional investment management sales industry, including serving as head of sales for one of
The Lyxor Hedge Fund Index is still in positive territory at the end of June in spite of a slightly negative performance of -0.47 per cent during that month (+0.49 per cent in 2012).
Seven Lyxor Strategy Indices out of 14 ended the month in positive territory, led by Lyxor Fixed Income Arbitrage (+1.97 per cent) and Lyxor L/S Equity Long Bias (+1.95 per cent).
Amid volatility above its 2012 average, hedge fund strategies posted mixed performance in June. Over the last two months however, the outperformance of the hedge fund space over world equity markets has been significant. The
Mohican Financial Management LLC, based in Cooperstown, New York and Wilton, Connecticut, was established by two brothers, Eric and Dan Hage in October 2002. Between them, the brothers have over 35 years of experience trading convertible securities.
The Mohican VCA Master Fund focuses on convertible securities of US small- and mid-cap companies. In many ways, the firm is closely aligned with the niche market in which it trades and prides itself on being nimble, focused and specialised.
There are many benefits to focusing the fund’s investment strategy on small- and mid-cap companies. Since 1 January 2005, these companies have
Meridian Fund Services administers funds across all hedge fund structures (single strategy funds, master-feeder funds, FoHFs and separately managed accounts) and private equity funds. At present, the firm has approximately USD15billion in AuA. It services approximately 90 clients across 231 funds, which collectively have more than 5,700 separate investors.
Tom Davis (pictured), CEO, explains that the main headwind affecting the firm last year was the fact that towards the end of the summer some of its funds had performance difficulties. “AuM went down slightly and the new funds that we were getting in didn’t offset the decreasing value of some of
Titan Capital, founded by Russell Abrams in 2001, was one of the first pure play volatility fund managers in the hedge fund industry. Prior to establishing Titan, Abrams was co-head of US Equity Derivative Trading and Convertible Arbitrage at Merrill Lynch from 1997 to 2000.
Titan trades volatility non-directionally using a relative value strategy to exploit option arbitrage opportunities in both its funds: Titan Global Return Fund and Titan Asia Volatility Fund.
As Abrams explains: “We’re comfortable trading options against each other within the same asset class. FX is interesting for us right now because volatilities have been
CurAlea Associates LLC was established by Seb Calabro and Peter Ort (pictured) in 2010 to provide risk advisory services to hedge funds and other buyside clients. The firm delivers high touch, high value-added services to clients via both quantitative portfolio risk analyses and qualitative interpretations of portfolio risk. CurAlea’s hedge fund clients typically employ fundamental investment strategies with a focus on liquid securities.
Prior to establishing CurAlea, Calabro and Ort spent many years at both hedge funds and hedge funds of funds, giving them insight into hedge fund portfolio construction and risk management and the ever growing requirements and
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