WEST PALM BEACH, FL (www.hedgeco.net)-Paul Touraji, a former manager at Catequil Asset Management has unveiled a new hedge fund. According to the report Touraji, a former associate of Julian Bond�sTiger Management has launched a new hedge fund with assets of about $1 billion. Touraji had a bitter feud with his former partner at Catequil Asset Management before breaking up from that firm.
Touraji�s new hedge fund, called Touraji Capital Management will be investing in Commodities markets. The new fund is not accepting any new assets according to released reports. All invested money in Touraji�s hedge fund will be subjected to a minimum lock up period of 3 years, before any withdrawals could be made. Such strategy will enable the fund management to avoid SEC regulatory oversight laws scheduled to go into effect early next year.
According to the report, Touraji�s hedge fund will be using office space adjacent to the old Tiger Management office, and will be investing some money for Julian Robertson as well.
Touraji sued his former partner at Catequil Asset Management for $100 million in a bitter feud which made headlines last year. His former partner Robert Ellis charged him with misusing $1 million of the company�s money. Touraji was also accused of being abusive to the employees of the firm.
The new Touraji hedge fund will levy a 2 percent management fee plus additional 20 percent annual performance charges. The minimum initial investments were not immediately provided.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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