Finisterre Capital, a specialist emerging markets equity and debt hedge fund manager, announced Monday that it will open its first dedicated long/short equity fund to outside investors in the second quarter.
The Finisterre Equity Fund is co-managed by Alistair Candlish and Edward Cole, who will use a top-down macro process to predict momentum changes in global business cycles and invest accordingly on a long and short basis, according to a company news release.
Messrs. Candlish and Cole already manage “a substantial equity allocation” within Finsterre's more established Global Opportunity Fund, which has a total of $800 million, the release noted.
The target return of the Finisterre Equity Fund is 15% to 20% net annualized over individual business cycles with a target volatility of 10% to 13%. The Finisterre Equity Fund was launched internally in November with $25 million of seed capital.
Paul Crean, Finisterre co-founder and chief investment officer, was not available for an interview, but said in the release: “There has been growing investor demand for a Finisterre equity fund. The new fund nicely complements our existing emerging markets offerings, and rounds out our (emerging markets) product range.”
