NEW YORK (HedgeWorld.com)–The foundation charged with managing the pool of money out of which Nobel Prize winners are paid made its first hedge fund investments recently, and among those selected to manage assets were Corbin Capital Partners, a New York fund of funds firm, Rock Creek Group, Washington, D.C., and Carnegie Asset Management, Copenhagen, Denmark.
The 3.4 billion Swedish kroner ($450 million) Nobel Foundation, established in 1900 as part of the estate of Alfred Nobel, gave undisclosed amounts of money to Corbin, Rock Creek and Carnegie.
Corbin, which manages $1.8 billion in assets, is the successor firm to Dubin & Swieca Capital Management, founded by Glenn Dubin and Henry Swieca, who also founded Highbridge Capital Management and have run it for JP Morgan Chase since the bank bought it in 2004.
“It is an honor to have been selected by the Nobel Foundation,” said Tracy McHale Stuart, chief executive of Corbin Capital, in a statement. “We are committed to a strong partnership with Nobel as they begin their hedge fund program.”
Rock Creek, a fund of funds, began as the hedge fund business of the Carlyle Group, a private equity firm. Afsaneh Beschloss is president and chief executive of Rock Creek; she is also the former treasurer and chief investment officer for the World Bank.
Carnegie manages the Carnegie Worldwide Long/Short fund and is run by Bo Knudsen and Bengt Seger.