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Bluecrest Seeds Meredith Whitney's Hedge Fund Venture

Nov 13, 2013
Jing Chen

Meredith Whitney’s new hedge fund has won backing from principals of Michael Platt’s Bluecrest Capital.

Bloomberg reported that New York-based Kenbelle Capital started trading November 1 with $50 million from Bluecrest’s partners.

Whitney, who is famous for accurately predicting that Citigroup would be forced to cut its dividend in 2007, reportedly began winding down the brokerage unit of her advisory firm, Whitney Advisory Group, earlier this year to set up Kenbelle with former Guggenheim Partners and SAC Capital Advisors employee Stephen M. Schwartz.

Kenbelle, which invests in U.S. equities, is aiming to return 12% to 17% annually.


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