Reuters- Carrie McCabe, among the most prominent women executives in the hedge fund industry, is launching a new hedge fund investment firm backed by General Electric’s asset management division, sources familiar with the situation said on Tuesday.
McCabe, formerly chief executive of both Blackstone Alternative Asset Management and FRM Americas, a $13 billion hedge fund investment firm, is raising money for the new firm, Lasair Capital LLC, and expects to begin investing in coming months, sources said.
It is unclear how much money Lasair intends to raise for its ‘fund of funds’ strategy, or one which funnels institutional investor money into a portfolio of hedge funds for a fee. The firm will also invest in timber and infrastructure assets, according to a letter McCabe sent to investors that was obtained by Reuters.
