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February 8, 2006
Ex-Harvard manager beats launch record
The former manager of the Harvard University endowment is discovering the Meyer the merrier, as Jack Meyer’s spanking new Convexity Capital is set to break the record for largest launch, reportedly $6 billion. That figure, according to the Financial Times, would top Erich Mindich’s Eton Park Capital Management and William von Mueffling’s Cantillon Capital Management, which both held the previous record with their $3 billion launches in 2004. Some credit Meyer’s fund-raising success to his stellar reputation, that he may be “arguably the best hedge fund manager of the past 15 years,” while the FT credits his unique approach of using a fixed-income strategy coupled with alpha through exposure to an index that an investor chooses – a strategy he used at Harvard that helped propel assets from $4.7 billion to $22.6 billion during his 15-year tenure, which ended last year. Lower-than-standard management fees of 1.25% can’t hurt either.
-Hedge Fund Daily-
Posted by su at February 8, 2006 3:10 PM