|5:15 is no longer just the name of a song from The Who’s 1973 album, Quadrophenia, according to Bloomberg it is also the name of a hedge fund started by three traders. The three founders and Who enthusiasts, Morris Sachs, E.G. Fisher, and Rob Wahl, worked together at RBS Greenwich Capital and more recently at Brevan Howard USA, which discontinued its US operations in November of 2008.|
5:15 Capital Management LLC will focus on trading government debt from the seven top economies in the world. According to Mr. Sachs, the portfolio managers will try to find differences in relative value between bonds in addition to looking at macroeconomic trends for interest rate and yield curve patterns. The fund started trading today with about $60 million but is expected by Sachs to grow to about $100 million soon.
Sachs said in an interview that they opted for something a little more original rather than one of the typical names currently held by thousands of hedge funds and that it hasn’t hurt their ability to raise money.