April 4, 2014

Exclusive: Eigenvector Capital launches maiden fund with $25m

Reprinted from HFMWeek

A former Titan Capital and Palestra Capital professional has teamed up with a family office veteran to launch a new firm in Connecticut named Eigenvector Capital, whose maiden offering launched this month.

HFMWeek can reveal that Sean Ballard and Nathan Rex have opened Eigenvector's debut fund with $25m, much of which from an undisclosed family office which previously employed Rex.

It employs a systematic value-oriented long/short US equity strategy with 50-70 long positions and 100-140 short ones across all sectors except financials.

Rex is Eigenvector's CIO and Ballard is CEO. Before Rex managed money for the family office in Connecticut, he worked at Troy Capital and prior to that, he was a consultant at Mars & Co. Ballard spent four years at Titan Capital and prior to that, he held positions at Lionstone Capital, Torrey Associates and Goldman Sachs.

Eigenvector has appointed industry veterans Keith Danko and Alex Troy as senior advisors. Danko is CEO of Witherspoon Consulting Partners and before that, he was former CEO of ACAM Advisors and CQS US. Troy most recently founded Troy Capital and previously, he spent almost a decade as a managing director at Perry Capital focused on merger arbitrage.

Eigenvector has a $500,000 investment minimum with 1.5/20 fees. Its liquidity terms and service providers are still being determined.