Tuckerbrook Alternative Investments hired Arnie Schneider III, founder of Schneider Capital Management, and Donald Besser, founder of Manchester Growth Capital, as subadvisers of Tuckerbrook's first hedge fund. Jay Yoder, CIO of Tuckerbrook, said he will be responsible for the asset allocation of the Tuckerbrook Long/Short Value Fund. Sources with knowledge of the new alternatives asset manager, which formally opened for business today, said the new hedge fund will launch on Oct. 1, probably with "significant" assets committed by institutions.
Tuckerbrook will launch two additional funds within the next few months, Mr. Yoder said. The firm is looking for an experienced real estate portfolio manager to start and manage the planned Tuckerbrook Private Real Estate Fund. That individual, together with Mr. Yoder, will collaborate in internally managing the Tuckerbrook Real Asset Fund later in the year, which will invest in sectors such as energy, timber and gold.