Turner Investment Partners, best known for its growth stock prowess and sector focus, is incubating a technology hedge fund. The public debut of the fund hasn't been set, but Robert Turner, CIO, CEO and chairman, said within the next six to 12 months, the firm's investment teams will likely design and seed four other hedge funds focused on the consumer, cyclical, financial services and health-care sectors.
Earlier this month, Turner Investment Partners sold its stake in hedge fund-of-funds manager Ascendant Capital, which managed less than $200 million in assets, as part of the firm's "back to basics" focus on active U.S. growth and small-cap core and value equity strategies and institutional distribution, Mr. Turner said.
