Palisade Capital Management has launched a long/short equity hedge fund and also hired an industry veteran to run it.
Hedge Funds Review reported that the new fund will be headed by Paul Flather who founded Hermes Advisors, the hedge fund management firm New Jersey-based Palisade recently acquired.
The new fund will utilize the same “fundamental, bottom-up stock-picking strategy Flather used for 18 years at Hermes.”
Dan Veru, the chief investment officer at Palisade, said that the launch of the fund was prompted by clients’ “interest in alternatives.”
Palisade currently manages a total of $3.6 billion across its range of strategies, including nearly $500 million in alternative investment strategies.