and they later also received investments from another entity, the Quebec Emerging Managers Program. Assets have since grown to more than C$265 million as of June 2023. The strategy is fundamental equity long/short with a variable net bias. It selects a concentrated book of longs and shorts from around 3,000 under-researched US mid and small caps and Canadian equities with market caps between $150 million and $20 billion. The investment philosophy is to find “growth at a reasonable price” opportunities for longs along with selective alpha short positions facing cyclical and secular challenges. Bastion meets company management and writes proprietary research notes, including specific catalysts and an integrated ESG analysis for each stock. Bastion are SBAI signatories; report portfolio carbon footprints and engagement is important via proxy voting and giving a percentage of their profits to charities every year. Haggar and Gentile previously co-managed equity long/short and equity market neutral strategies at Formula Growth Ltd. Boisvert worked with Haggar and Gentile at Formula Growth and previously for HR Strategies, a fund of hedge funds in Canada. Haggar, a CPA and CFA charterholder, has a finance degree from Concordia University. Boisvert has an MSc in Finance from University of Sherbrooke and a BA in Economics and Finance from McGill University.
Peter Bremberg
Founder and CIO The Quarry New York
Multi-strategy, multi-manager allocator, The Quarry, launched in September 2022, with a focus on relative value and arbitrage across asset classes, special situations and event driven, index/ETF arbitrage, volatility arbitrage, quantitative equity, niche commodity trading, and market making. The Quarry has some appetite for cryptocurrency strategies and has the infrastructure to handle these markets. Liquid and less scalable strategies with Sharpe ratios above 2 are sought. The firm invests with managers through separately managed accounts and may selectively bring portfolio managers internally to trade exclusively for The Quarry in some cases, though most can also run third party capital. The firm is backed by large, well-known institutional investors (including Stable Asset Management, a US state pension fund, and some of the founders’ former employers) and is actively on-boarding an initial set of managers: allocating between $200-$400 million in the initial 6-18 months across 15-25 managers. Peter Bremberg was previously Chief Operating Officer of Boothbay Fund Management, a multi- manager hedge fund with more than $5 billion of capital allocations to over 130 managers globally. Senior leadership of The Quarry has extensive institutional multi-strategy investment
experience at Millennium, Boothbay, Infini, Taconic, APG and deep digital asset/crypto investment experience at BlockFi, LedgerX, Boothbay and Infini. Bremberg has an MBA from NYU Stern School of Business, and a BA in Philosophy and Finance from Steubenville.
Derek Brown
Founder and Portfolio Manager Dardanelles Capital, LP Boston, Massachusetts
Derek Brown founded Dardanelles Capital, the manager of a long/short equity fund primarily focused on identifying idiosyncratic opportunities in consumer and TMT, in October 2022. He takes a three-year private owner’s view on under-appreciated, high-quality growing businesses, which may be facing an ephemeral setback or approaching an inflection point. The manager takes a one-year view on shorts with deteriorating fundamentals, such as market share loss, secular headwinds, poor cash generation, as well as bad accounting and competitive threats. Most exposure is in North America with opportunistic excursions into Europe and Asia and stocks need a market capitalisation above $100 million. Brown previously worked at value oriented long/ short equity fund, Graham Partners, and at Tiger-seeded growth-focused long/short equity fund, Fox Point Capital. He has also worked in private equity for Advent International and led Lululemon Athletica’s IPO process. Brown has an MBA from Harvard Business School and a BA in Economics from Davidson College.
Ronnie Chowdhury/ Eva Maria Kullmann
Co-Founders, CIO/CEO Ancova Capital Management United Arab Emirates
Ronnie Chowdhury created the Ancova Volatility Optimiser Fund strategy, which is a systematic market neutral strategy including statistical arbitrage, trading US equities and options. It uses artificial intelligence and machine learning techniques and has developed option pricing techniques that he claims mark an improvement on the Heston model. The strategy has generated a Sharpe of over 2 since 2017. It started trading using proprietary capital in 2017 and launched as a fund on the Ancova Capital Management SPC platform in 2022. ACM SPC, founded by Eva Maria Kullmann, is an administered mutual fund platform in the Cayman Islands which is licensed and regulated by the Cayman Islands Monetary Authority, established with the vision to offer emerging fund managers a professional platform to launch unique strategies. Chowdhury was
formerly a quantitative trader of commodities correlation, indices, futures and options at Deutsche Bank UK running a book of $8 billion. He earlier held roles in commodities IT development at RBS Sempra Commodities, Credit Suisse, and Barclays Capital. He has a Masters Research degree in AI and Computer Science from UCL. Kullmann was previously a Managing Director at wealth manager Ryze Investments Limited leading over 60 professionals. She has an MSc in International Business and Economics from University of Westminster, London and a BS in International Business and Economics from University of Trier.
Kenny Chung
Executive Director and Portfolio Manager Astera Capital Hong Kong
Kenny Chung, an expert on Asian credit markets, manages the public long/short credit strategy on the Astera Capital platform launched in September 2021. His credit long/ short strategy trades senior and subordinated bonds, perpetual debt, convertible bonds, options and swaps including CDS, globally with a strong focus on Asian credit and macro driven credit events. The investment process blends top down and bottom-up analysis, including precise judgements on credit cycles and trends, carrying out fundamental credit analysis and technical trading. Investment themes in 2023 have included “Cautious Fundamental Selection on India and Indonesia High Yield Borrowers”; “China Property Market Shows Slow Recovery, Bearish Sector with High Liquidity Wall”; and “The Next Stage of Asia Frontier Markets After Defaults”. The strategy has generated strong risk-adjusted returns with low correlation to equities and relevant fixed income indices such as China high yield bonds and emerging market bonds. Chung was previously a portfolio manager at GaoTeng Global Asset Management, where he co-managed the GaoTeng Greater China Select Bond Fund and assisted in managing other fixed income mandates. Prior to GaoTeng, he was a credit analyst and trader at HuaAn Asset Management co-managing $1 billion in offshore fixed income. He has a BBA in Economics and Finance from The University of Hong Kong.
Hubertus Clausius
Co-Founder and Managing Director Seahawk Investments Oberursel, Hesse (Frankfurt area)
Hubertus Clausius co-founded Seahawk Investments which is owned by investment and corporate finance advisory group, Transport Capital, in 2018. He co-manages the Seahawk Equity Long/Short Fund, which invests in
41
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72
