RADNOR, Pa. (HedgeWorld.com)--In anticipation of launching a new long/short equity fund in the coming month, CMG Capital Management Group Inc. hired Edward J. Stavetski as chief investment strategist for CMG Investment Advisors LLC and as portfolio manager for the new fund.
Mr. Stavetski previously founded and served as chief investment officer for Pembroke Capital Management, an US$18 million all-cap, multi-strategy absolute return fund. Mr. Stavetski said he was in the process of withdrawing that fund's registration and moving its clients over to the CMG platform.
In his new job as chief investment strategist, Mr. Stavetski will develop quantitative analysis and asset allocation studies for the CMG All Seasons multi-strategy fund of funds. As portfolio manager, he will oversee a single-strategy long/short fund that CMG officials described in a news release as using a contrarian approach to finding long-term undervalued investments and short-term opportunistic investments with a potential catalyst to restore long-term value.
Mr. Stavetski said he was excited to join CMG at "such a dynamic time in the hedge fund industry. It is rare to be presented the occasion to be part of an organization that has top-caliber people with a passion for the investment business and that maintains a strong culture along with an entrepreneurial environment," he said.
In a statement, Stephen Blumenthal, CMG founder and chief investment officer of CMG Investment Advisors LLC, said Mr. Stavetski brought with him experience and a good track record. "He adds tremendous depth to our firm and will help us move our quantitative and analytical skills to the next level," Mr. Blumenthal said.
CMG manages more than US$400 million in hedge fund products for endowments, foundations, pension funds and high-net-worth individuals, according to a news release.
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