NEW YORK, Sept 8 (Reuters) - Context Capital Partners, a firm that provides seed money for emerging investment funds, has invested in a market-neutral hedge fund managed by former Susquehanna International Group star David Sung.
Betzwood Partners buys shares in media, telecommunications and technology companies with the goal of generating steady returns independent of the market's direction.
Since the fund's launch in April last year, Betzwood has outperformed the benchmark for market-neutral funds, Context founder and managing director Ron Biscardi told Reuters.
Sung previously ran a market-neutral media and telecommunications portfolio at Susquehanna, a Philadelphia brokerage and securities dealer. He left the firm in November 2008.
'People are looking for liquidity and a solid track record,' Biscardi told Reuters. 'Dave had great numbers at Susquehanna and a good story.'
Context, based in Bala Cynwyd, Pennsylvania, is one of several firms that invest in start-up fund managers and then provide fund-raising, marketing and other support to help them expand. Context currently has over $300 million of capital under management.
The terms of the Betzwood investment were not disclosed.
(Reporting by Joseph A. Giannone; editing by Andre Grenon) Keywords: CONTEXTCAPITAL/ (joseph.giannone@thomsonreuters.com +1 646 223 6184; Reuters Messaging: joseph.giannone.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Betzwood Partners buys shares in media, telecommunications and technology companies with the goal of generating steady returns independent of the market's direction.
Since the fund's launch in April last year, Betzwood has outperformed the benchmark for market-neutral funds, Context founder and managing director Ron Biscardi told Reuters.
Sung previously ran a market-neutral media and telecommunications portfolio at Susquehanna, a Philadelphia brokerage and securities dealer. He left the firm in November 2008.
'People are looking for liquidity and a solid track record,' Biscardi told Reuters. 'Dave had great numbers at Susquehanna and a good story.'
Context, based in Bala Cynwyd, Pennsylvania, is one of several firms that invest in start-up fund managers and then provide fund-raising, marketing and other support to help them expand. Context currently has over $300 million of capital under management.
The terms of the Betzwood investment were not disclosed.
(Reporting by Joseph A. Giannone; editing by Andre Grenon) Keywords: CONTEXTCAPITAL/ (joseph.giannone@thomsonreuters.com +1 646 223 6184; Reuters Messaging: joseph.giannone.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.