Celestar Capital Advisors hired Bear Measurisk to provide risk measurement and monitoring, confirmed Farzine Hachemian, co-founder and managing partner of Celestar. Celestar is a hedge fund and fund-of-funds advisory firm launched in September 2003. The firm also plans to launch a hedge fund of funds, Mr. Hachemian said.
"Very early on in the process we identified the need for a risk aggregator," he said. "As an advisory firm, we'd rather have a third-party provider," even though some hedge fund managers are willing to provide information on their funds.
Mr. Hachemian and Barry Seeman, Celestar's other co-founder, launched the firm after jointly running AXA Alternative Advisors, the AXA Group subsidiary specializing in hedge funds. Celestar has a multiyear agreement to provide AXA with investment advisory services, Mr. Hachemian said.
