NEW YORK (HedgeWorld.com)–The management team behind Nucleus family of funds at Midtown Research Group LLC is in the process of a friendly fission that will split the group into two new hedge fund shops–Alson Capital Partners and Copper Arch Capital.
Midtown Research founder Scott Sipprelle had been with Morgan Stanley for more than a dozen years and was head of its U.S. equity capital markets group when he left with research analyst Neil Barksy to start Midtown Research in 1998.
The group’s initial focus was on proprietary research, including analysis of a then burgeoning initial public offering market for institutional clients. The firm later established the advisory group MRG Capital LLC to exploit its own research in the form of U.S. and offshore long/short hedge fund portfolios for qualified investors.
Terms of the impending split were not revealed. But filings with the U.S. Securities and Exchange Commission in late 2001 indicated that Mr. Sipprelle owned 49.6% of MRG Capital LLC, while Mr. Barksy owned 40.5%.