Clearwater Asset Management, a U.S. growth equity manager, launched Clearwater Capital Partners II, a multistrategy hedge fund, according to Jamie Atkins, the firm's CEO and CIO. The strategy comprises the firm's first hedge fund, Clearwater Aggressive Opportunities Fund, which has an active domestic long-short strategy, and the Clearwater Asian Opportunities Fund, a global long-short strategy focused on emerging Asian economies. Mr. Atkins, who founded Clearwater in 2004, will manage the strategies. The firm plans to raise $300 million for the fund during the next 12 months, and the "ideal size" is between $750 million and $800 million, Mr. Atkins added. Joe Nodarse was named as a third-party marketing partner to introduce the firm's strategies — the new multistrategy hedge fund, as well as the firm's U.S. large-cap growth and small-cap growth equity strategies — to institutional investors. It's a new position. Mr. Nodarse was a consultant with Dahab Associates. Richard Dahab, president and chief investment consultant at Dahab Associates, could not immediately be reached for comment on plans for Mr. Nodarse's replacement.
(updated with correction)
