Tech hedge fund seeks new investors

24 July 2008

Christie Street Capital is currently seeking new institutional investors, Reuters reports.

The technology-based hedge fund, which is run by former JPMorgan strategist Greg Geiling, has previously been family-and-friends financed, and is looking to expand into new opportunities.

Total money-raising for the fund is aimed to be in the hundreds of millions of dollars, sources told the news agency - a figure which dwarfs its current funding of $50 million.

Since its foundation in 2006, the fund has generated average returns of 21 per cent for investors.

Speaking to the news agency, Dan Farkas, hedge fund analyst at Morningstar, said: "Tech is not really in favour right now, but if Christie Street has a verifiable track record and can convince prospective investors that it will deliver alpha [ie, above market returns], it should be able to attract interest."

Christie Street was named for the New Jersey thoroughfare on which legendary inventor Thomas Edison lived

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