{"id":23245,"date":"2011-06-27T09:17:52","date_gmt":"2011-06-27T13:17:52","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=23245"},"modified":"2011-06-27T10:06:35","modified_gmt":"2011-06-27T14:06:35","slug":"new-york-hedge-fund-launch-spiegels-longshort-stanphyl-fund","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2011\/new-york-hedge-fund-launch-spiegels-longshort-stanphyl-fund.html","title":{"rendered":"(Update) New York Hedge Fund Launch: The Long\/Short Stanphyl Fund"},"content":{"rendered":"

New York (HedgeCo.net) – New York-based limited liability company Stanphyl Capital GP, LLC (Stanphyl) has launched a long\/short equity hedge fund.\"\"<\/a><\/p>\n

The new hedge fund, Stanphyl Capital Partners, LP., launched earlier this month out of NYC. Managing member Mark Spiegel reported the current AUM at $2M.<\/p>\n

The Strategy<\/strong>
\n\u2013 Stanphyl runs a highly concentrated (three to ten \u201cbest ideas\u201d) long-short equity strategy
\n\u2013 The long positions consist primarily\u2013 but not exclusively– of underfollowed microcap stocks
\n\u2013 The short positions consist of individual stocks and index and \u201cmacro\u201d ETFs
\n\u2013 Investment decisions are fundamentally-based (both top-down and bottom-up), with technical analysis occasionally used to optimize entry and exit points
\n\u2013 There are over 8000 publicly-traded U.S. companies with market caps of under $500 million.
\n– The managing member believes that \u201coutsized\u201d gains can be made in these stocks due to the minimal attention paid to them by large institutional investors, while by using ETFs to establish well-timed index and \u201cmacro\u201d positions, hedges (and often outright gains) can be created on the short side with minimal risk of being \u201csqueezed\u201d
\n\u2013 Using modest leverage, the strategy has generated a 26.7% gross annualized return since\u00a0January 1, 2005 for the managing member\u2019s personal portfolio<\/p>\n

Spiegel is the managing member of Stanphyl Capital GP, LLC and is a NY-based equity investor. From late 2003 through early 2009 he was an investment banker (most recently as a Principal with Piper Jaffray & Co.) financing microcap public companies via private placement (\u201cPIPE\u201d and \u201cRegistered Direct\u201d) transactions sized from $5 million to $100 million in companies with market caps of $50 million to $500 million. Prior to becoming an investment banker, Mark spent a year \u201cinside\u201d (i.e., working for) a microcap Nasdaq tech company.<\/p>\n

Some Hedge Fund Highlights<\/strong>
\n\u2022 Volatility: \u00a0Due to their reduced liquidity, microcap stocks can be quite volatile on a short-term basis, and this volatility is often compounded by the portfolio\u2019s \u201cbest ideas\u201d concentration and typical hold period of six months to two years. Thus, on a monthly basis the NAV of the portfolio can move around quite a bit.
\n\u2022 Investor Concentration Limitations: \u00a0While Spiegel keeps the majority of his liquid net worth in Stanphyl, due to its high degree of concentration he limits each investor to placing no more than 10% of his or her liquid net worth in the fund.
\n\u2022 Occasional Very High Levels of Cash: Depending upon the availability of attractive investment opportunities (or lack thereof), there are times when Stanphyl may have much or all of its assets in cash. Spiegel\u00a0is quite comfortable with the concept of \u201cpatiently waiting for the right pitch at which to take a swing.\u201d<\/p>\n

Editing by Alex Akesson
\nFor HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n

<\/strong><\/p>\n

<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.net) – New York-based limited liability company Stanphyl Capital GP, LLC (Stanphyl) has launched a long\/short equity hedge fund. The new hedge fund, Stanphyl Capital Partners, LP., launched earlier this month out of NYC. Managing member Mark Spiegel […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,3],"tags":[],"class_list":["post-23245","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-launches","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/23245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=23245"}],"version-history":[{"count":8,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/23245\/revisions"}],"predecessor-version":[{"id":23247,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/23245\/revisions\/23247"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=23245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=23245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=23245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}