Ron Beller Hedge Fund
Ron Beller of Collapsed Peloton to Launch New Hedge Fund
Ron Beller, the hedge fund manager whose firm, Peloton Partners, collapsed after a huge bet on subprime securities went catastrophically sour, has launched a new shingle with former Peloton colleague Manal Mehta, Financial News reported.
The two have seeded the new hedge fund, Branch Hill Capital, with $40 million of their own capital, and are looking to raise $250 million from outside investors over the next year, the publication said. The fund, which began trading in June, is up 15 percent in its first three months, according to Financial News.
One of London’s most successful hedge funds, Peloton imploded in February 2008, putting the assets of its $2 billion flagship fund up for sale and freezing its remaining fund after mortgage trades left it unable to meet lenders’ demands.
Mr. Beller, now based in San Francisco, led Goldman Sachs’s fixed-income currency and commodity sales group in London before leaving in 2001 to help reorganize the New York City school system. He co-founded Peloton with Geoff Grant, a former co-head of Goldman’s macro proprietary trading group. Source