Acuitas Investments, a microcap multimanager, has been created by two portfolio managers formerly at Russell Investments.
Chris Tessin Acuitas founder and managing partner, confirmed in an interview that the firm will be based in Seattle, where both Mr. Tessin and Dennis Jensen, Acuitas founder and partner, had been based as portfolio managers running multimanager strategies at Russell. Brian Stoner, a former analyst at Russell’s capital markets research division, also joined Acuitas as senior research analyst and is an investor along with Messrs. Tessin and Jensen.
Mr. Tessin was lead portfolio manager for microcap, small-cap and smidcap products at Russell; Mr. Jensen was lead portfolio manager for Russell’s U.S. quantitative and style equity products, and senior research analyst for U.S. equity and alternative strategies.
Together the two had managed $16 billion in assets at Russell.
The first offering from Acuitas, a microcap strategy, was launched in the second quarter and has less than $10 million in assets. Mr. Tessin said his goal is for the strategy to manage $1 billion in assets.
Kate Stouffer, Russell spokeswoman, did not immediately respond to an e-mail about replacements for the three men.