ALTERNATIVES

Corbin Capital Partners appoints lone CIO

Craig Bergstrom, partner, became the sole chief investment officer of hedge fund-of-funds manager Corbin Capital Partners, confirmed Tracy McHale Stuart, partner and CEO, in an interview.

Mr. Bergstrom was co-CIO for eight years with David Ben-Ur, who left to become CIO of Caxton Alternative Management, the new family office set up by Bruce Kovner, founder and chairman of global macro hedge fund manager Caxton Associates. Mr. Kovner founded the family office to manage his personal wealth after he retired from Caxton Associates at the end of 2011, Ms. McHale Stuart said.

Mr. Ben-Ur will remain a partner of Corbin Capital and a strategic adviser to the firm, Ms. McHale Stuart said, adding that “we are supportive of David in this transition and look forward to an ongoing relationship with him.”

Three senior analysts have assumed responsibility for Mr. Ben-Ur's coverage duties for long/short equity hedge fund managers — Adriana Clancy, John Cocke and Matthew Glasofer. Additionally, Mr. Glasofer was named director of research, a role he held on a de facto basis for most of 2011, Ms. McHale Stuart said.

Corbin Capital Partners managed $2.7 billion in hedge funds of funds as of Dec. 31.