Highbridge Capital Management veteran Edward Tolson will be ringing in the New Year with a hedge fund launch of his own.
FINalternatives reported that Tolson’s New York-based Blue Basin Capital, which utilizes an algorithmic long/short equity strategy focused on stocks, will begin trading on January 1 with approximately $10 million in capital. The firm will cap when it reaches $25 million in assets.
Tolson told FINalternatives that limiting the size of the fund could help Blue Basin “capitalize on capacity-constrained opportunities” and deliver higher returns.
New York-based Highbridge, which is a unit of JPMorgan Chase & Co., Tolson was a managing director of the firm’s equity trading technology.