5:15 Capital Starts Hedge Fund With Nod to Who Song



Brian Cady brianinatlanta2001 at yahoo.com
Wed Jul 1 10:39:55 UTC 2009


>From Bloomberg.com:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQYwUOKUthxw

5:15 Capital Starts Hedge Fund With Nod to Who Song
By Tom Cahill

July 1 (Bloomberg) -- Three traders from Brevan Howard Asset Management LLP and RBS Greenwich Capital Markets started a government-bond hedge fund named for one of their favorite songs by the Who. 

5:15 Capital Management LLC, named for the track “5:15” on the British rockers’ 1973 album “Quadrophenia,” will begin trading today with about $60 million, according to Morris Sachs, one of the founders, who said the fund will grow to $100 million. Joining him at the Greenwich, Connecticut-based fund are E.G. Fisher, 40, and Rob Wahl, 42. 

“We’re all Who fans and love that tune,” Sachs, the fund’s chief risk officer, said in a telephone interview. “What are we going to do, try to find another name for the Greek god of money?” 

About 150 hedge funds were started from January through March, the most since the second quarter of 2008, according to data compiled by Chicago-based Hedge Fund Research Inc. Fund assets may increase by more than 8 percent this year as clients led by pension plans and rich families invest $50 billion of the cash they held while financial markets fell, according to a June 2 report by Barclays Plc. 

Sachs, 48, said the team, which has worked together for about 12 years, chose the name rather than one more typical of the thousands of hedge funds because they liked the Pete Townshend-written song, which includes the line “out of my brain on a train.” 

State Street Corp., the world’s second-largest administrator to hedge funds, with about $252 billion in assets, said most of its clients defer to place names or initials. 

 -Brian in Atlanta
The Who This Month!
http://www.thewhothismonth.com 


      



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