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August 04, 2003 at 08:00 PM
GREENWICH, Conn. (HedgeWorld.com)–FrontPoint Partners LLC announced that it was partnering with Ivory Capital Group LLC, a U.S. long/short equity manager based in Santa Monica, Calif.
Focused on fundamental value investing, the Ivory Capital team totals 14 professionals, including eight analysts who take a private equity approach to building public equity portfolios. Curtis Macnguyen, a former partner of Siegler, Coller & Co., founded the firm in 1988. In a statement, he said he believed the integration with FrontPoint would enable Ivory to focus on its core portfolio analysis, while FrontPoint handles the infrastructure and risk management of the firm.
The talks began with Ivory last fall, and FrontPoint officials will gain seven different office locations in eight different time zones with the acquisition. FrontPoint’s focus is to offer a diverse group of alternative investment strategies off a central platform. The firm integrates and supports investment teams through a central infrastructure managed by a team that provides trading, risk management, operation support, client management and portfolio consulting. FrontPoint manages a total of US$1.5 billion in assets.
