WEST PALM BEACH, FL (www.hedgeco.net) – Hyerdale Capital has launched its first hedge fund, Hyerdale Capital,LP. The fund began trading on June 8, according to the firm, and is a domiciled in Delaware. Hyerdale Capital employs a long/short equity dollar neutral strategy and has 30-60 holdings. It allocates 75-80% of its assets to large-cap companies, 20% to mid-cap companies and less than 5% to small-cap companies.
According to Hyerdale’s manager, Patrick D’Angelo “, I believe the fund will perform best in times of uncertainty and the fact that we’re negatively correlated to the market should entice long only or long biased investors. It is a true ‘hedge fund’.
D’Angelo most recently ran an unlevered dollar neutral portfolio with a successful 21 month track record for Dresdner Kleinwort Wasserstein and ran equity trading operations for Dresdner six years previous to that. Prior to that, D’Angelo ran the Asia equity trading desk in North America for Credit Suisse and spent five years as a European and US trader for SBC Warburg.
The fund began trading with internal capital of $1 million. The minimum investment requirement is $1,000,000 and the fund carries a management fee of 2 percent, and a performance fee of 20 percent, with a high watermark provision.
The new fund allows for monthly additions and quarterly redemptions, with a one year lock-up provision. RBC Prime Brokerage will provide prime brokerage services while Sadis and Goldberg LLP and Grant Thornton will handle the legal and auditing functions respectively. Hyerdale Capital is also listed on hedge fund database, HedgeCo.Net.
For further information contact Hyerdale Capital:
Patrick D’Angelo
Phone: 212-482-7981
Email: Patrick@hyerdale.com
