Search Specialist Enters Next Phase

Executive recruiter Sasha Jensen has expanded the scope of her firm, while adding to its staff and adjusting its ownership structure. As of this month, Jensens New York operation is going by the name Jensen Partners. The outfit had been known as HFE Search, but changed its identity to reflect the fact that it no longer works exclusively for hedge fund managers, and now also serves private equity firms. Jensen Partners also has boosted its headcount to six with the additions of Comar Wilson in London and Karly Zendejas in New York. Wilson, who joins as head of research, previously worked at search firms Kinsey Allen and Principal Search. Zendejas is helping with research, following stints as an executive assistant at Prosiris Capital and Maverick Capital. Meanwhile, Jensen Partners has revised its legal structure so that personnel other than Jensen can hold equity in the operation. The new shareholders primarily would be partners promoted from within. Jensen Partners recruits marketing personnel for its clients, most of which are U.S. fund managers running $1 billion to $7 billion. It also works on behalf of European shops that want to reach investors in the States. Given that focus, Jensen Partners is telling clients that it was able to track virtually all marketing-related hires in the hedge fund industry last year offering insight into a number of market trends. Among them are efforts by managers to devote more resources to their capital-raising efforts, and increased staff defections from banks capital-introduction groups to fund operators. Before, managers would sit on their heels and wait until they got to $700 million or $1 billion to formalize their fundraising, Jensen said. The smaller funds are look-

JANUARY 29, 201

3 Seamans Debu ts Clea 3 Incline Filling Foun 3 Event-Driven Team

Tepper Backs
Appaloosa Man

n-Energy Fund

ders Share Class Hangs Shingle

3 Shop Plans Debt -Focused Hedg e Fund 4 Manager Pools Client Accounts 4 Tech Shop Crea tes Risk App for LPs 5 Citi Private Bank Targets Fund Pros 8 Search Spec ialist Enters Next Phase 4 INFLOWS/OUT FLOWS BY STRA TEGY 11 LATEST LAUN CHES

THE GRAPEVINE
Aldoroty joine brokerage group d Pershings primethis managing director month as a business-develop in charge of a new men management divis t and relationship30 years of prim ion. Aldoroty brings e-brokerage and finance experience, mos t recently as head sales and relations of hip management Citigroups prim e-brokerage unit for . At Pershing, a Jerse y City, N.J., unit of Mellon, he repo rts to Gerry Tamb BNY urro. Mark

has bond analyst from hired a convertiblerecruit, Andrew Avenue Capital. The Kallm the New York mult an, started at i-strategy shop this month. He had been at Avenue since 2010, and before that worked at Silve Point Capital and r Goldman Sach
s.

Och-Ziff Capital

Placement agent Alternative Acce ss Capital has added two marketing profe ssionals to its staff. Randall Carr joined the firms Park City, Utah, office in recent week s See
GRAPEVINE on Back Page

Look for hedge the form of a mutufund seeder Context Capital to laun al fund. ch a multi-manage The Bala Cynw r vehicle in Asset Managem yd, Pa., firm, through a newly ent, creat Alternative Strat filed registration documents with ed business called Context egies Fund. The the SEC last week vehicle will depl managers including for Context oy the bulk of its Del Mar Asset capital to outside Capital, Highland Management, ESM Capi manage up to 35% tal and Weatherbie Capital, but Management, First Principles it reserves the right of The planned laun its assets in securities portfolios. to directly ch marks a chan some $300 milli ge of pace for Cont on of seed capit ext, whic al in hedge fund backed an effort s over the years. h has invested by More recently, it to start a conferen former AlphaMetrix executives Mark ce-o Sala rgan meh and Geof izing business event is taking place this week in Miam called Context Summits who f Marcus i. At AlphaMetrix, se their team ran a debut series of
See CONTEXT on Page 8

Context Capital

Asia-focused equi ty shop Asian Cent fund. ury Quest Capi tal is shutting down its main Founder Brian Kelly , once a secto his Asian Century r head at Maverick Quest Offshore Fund Capi already has liqui at yearend amid heav tal, began unwinding dated y withdrawals. And The shuttering of a smaller vehicle focusing on smal he those two fund l-company stock long-only vehicle whose fate Kelly s would leave Asian Century runn s. choose to fold the has yet to decid ing only a e million as of Jan. operation entirely. Asian Century suggesting that he could 1, down from $2 billion a year earli as a whole was running $500 The main fund starting with rede s investor withdrawals entailed er. som mption requests lagging performa from limited part ething of a domino effect, nce figures last year. With those ners who were unhappy with backers pulling out, the vehicles

Redemptions Pu

agem plans to start a hedg ent founder David Tepper is backing a senio e r anal Its unclear how fund in partnership with a CQS portfolio manager. yst who much Tepper plan being set up by s to invest Eric Yip of App aloosa and Mark with Alder Hill Capital, which at Michael Hintz Unferth, a distr es CQS. But he essed-debt man is has stantial backing ager in the past inclu given top-performing Appaloo sa which launched ding $60 million in 2012 for Jeff Lignellis staffers subIncline Global, Both Yip and Unfe (see article on Page 3). rth plan to leave with the aim of their current posi launching their tions at the end of this week debut hedge fund chief financial offi , around cer Alder Hill will is set to join their New York firm midyear. An unidentified approach to secu invest across the capital struc in March. rities selection and ture, likened the appr occasionally purs employing a deep-value oach to the strat uing activist plays. Sour egies of Carl Icah ces ns hedge fund business; Corvex

Effort by Appa

loosa, CQS Pro

shing Asia Ma

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nager to Brink

Entering Mutua

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l-Fund Arena

ing to institutionalize marketing right out of the gate, going straight to marketing hires. Before starting Jensen Partners, Jensen worked at Gerson Group, Kinsey Allen and Rice & Dore.

HEDGE FUND ALERT: January 29, 2014, 5 Marine View Plaza, Suite 400, Hoboken NJ 07030. 201-659-1700