RWC Long-Short Strategy Gets Backing from SAC Capital

November 9th, 2009
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London hedge fund manager RWC Partners has raised $500 million in capital for its new large cap US Equity focused RWC US Long-Short strategy. The fund’s portfolio manager, Mike Corcell, has also secured backing of an undisclosed amount from his former employer, SAC Capital. Prior to his brief time at SAC Capital, Mr. Corcell managed Threadneedle Asset Management’s American Crescendo Fund.

The fundraising underscores an increasing appetite for risk after the investors withdrew from hedge funds late last year. The fund will be offered through a Cayman Islands vehicle, dubbed the RWC US Absolute Alpha Fund and a Luxembourg based vehicle, the RWC Biltmore Fund. The Biltmore Fund is geared towards European Union investors as it complies with E.U. transparency laws.
See Press Release
For Detailed Investor Profiles on these Investors, click below:
RWC Partners
SAC Capital Advisors
Related People: Ajay Gambhir; Chris Maude; Davide Basile; John Innes; Mike Corcell; Peter Harrison; Priya Kodeeswaran; Steven A. Cohen
Related Entities: Canvas Capital; CR Intrinsic Investors; MPC Investors Ltd*; RWC Global Convertible Bonds; RWC Partners Long-Short European Equities; RWC Partners Long-Short UK Equities; RWC US Long-Short Fund; S.A.C. Global Investors; SAC Capital Associates; SAC Meridian; SAC MultiQuant; SAC Select; Schroders PLC; Sigma Capital Management; Walter Capital Management*
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

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