Resultant Capital Partners will launch its first fund, the Resultant Hedged Equity Fund, a long/short U.S. equity hedge fund, on Tuesday with $20 million of internal money.
Resultant Capital opened Jan. 1 and will manage institutional assets quantitatively using a concentrated long/short hedge fund and long-only U.S. equity strategy, said Jeffrey Skelton, managing partner and president.
The firm was formed by former Symphony Asset Management employees who worked together for at least 15 years, including Mr. Skelton, who was Symphony president, CEO and co-founder. The team managed about $3 billion in hedged and long-only equity while at Symphony, Mr. Skelton said in an interview.
Resultant Capital’s other partners are Michael Henman, head of business development; Peter Comerford, head of trading and technology; David Wang, lead portfolio manager; Rick Brandt, portfolio manager; Eric Olson, head of quantitative research; and Michele McGovern, COO. Praveen Gottipalli also is an advisory partner and serves in a consulting role to the portfolio management team, Mr. Skelton said.
At Symphony, Mr. Gottipalli was a portfolio manager and co-founder; Mr. Henman was director of marketing and client service and co-founder; Mr. Comerford was director of trading and technology; Mr. Wang was a portfolio manager and director of equity investments; Mr. Brandt was portfolio manager and senior equity analyst; and Mr. Olson was director of international equity strategies.
Kristyna Sujata, a spokeswoman for Nuveen Investments, the parent of Symphony Asset Management, did not return a call seeking information about replacements for the former employees.
Ms. McGovern was CEO of Iris Financial Solutions, a trading solutions provider to global investment banks.