Close Close

Portfolio > Asset Managers

Asset Alliance Takes Stake in Spencer Capital

Your article was successfully shared with the contacts you provided.

NEW YORK (–Hedge fund holding company and incubator Asset Alliance Corporation acquired an equity interest in New York-based Spencer Capital Management LLC, a fund manager headed by Kenneth Shubin Stein.

The size of the stake was not disclosed, but Asset Alliance typically acquires 50% of a manager’s equity. Spencer specializes in deep value investing, using various instruments that include stocks, options and credit derivatives.

Mr. Stein previously co-founded Compo Asset Management LLC, a partnership that later became part of Promethean Investment Group.

Bruce Lipnick, president and chief executive of Asset Alliance, said in a statement that Mr. Stein has a unique skill set and has clearly demonstrated his ability to execute his investment strategy.

Asset Alliance and its affiliated managers in various strategies oversee about US$4.6 billion in assets. Providing capital to emerging managers in exchange for ownership interest or future capacity is a growing segment of the hedge fund industry (see ).

[email protected]

Contact Robert F. Keane with comments or questions at

“mailto:[email protected]”>[email protected]