URGENT UPDATE: A new hedge fund, Mecox Capital Partners, is making headlines as it prepares to launch with $50 million in assets under the guidance of Richard Passer. The firm, backed by hedge fund veteran Peter Borish, will commence trading on January 1, 2024, positioning itself in the competitive world of options trading.
This announcement comes amid a growing interest in alternative investments, and the firm’s initial capital reflects a strong vote of confidence from Borish, a founding partner of Paul Tudor Jones‘s renowned hedge fund, Tudor Investment Corp. The New York-based hedge fund landscape is ever-evolving, and Mecox aims to carve out its niche with a strategic focus on short-term-duration options.
Passer, who has an extensive background in trading and investor relations, previously held key positions at Dan Niles‘s Satori Fund and several other high-profile funds. In an email, Borish expressed his belief in Passer’s discipline, stating,
“Discretionary trading is particularly challenging, but Richard has the discipline to succeed.”
Their connection dates back years, having first met during a casual basketball game, underscoring the personal ties that often characterize the finance industry.
The firm, named after a bay in the Hamptons, will typically execute between three and five trades daily. Passer will serve as Chief Investment Officer, while Kiran Srinivas will take on the role of Chief Portfolio Officer. With over two decades of investment experience at major hedge funds like D.E. Shaw and Millennium, Srinivas brings considerable expertise to the firm.
Mecox Capital Partners is based in the picturesque hamlet of Bridgehampton, New York, a location synonymous with finance and affluent lifestyles. The hedge fund aims to leverage its strategic focus and the reputation of its backers to attract further investments in the upcoming year.
As the hedge fund landscape continues to evolve, Mecox’s launch is a significant development that investors will be watching closely. With its emphasis on options trading and a solid backing from one of the industry’s respected figures, it is poised to make an impact in 2024.
Stay tuned for more updates as Mecox Capital Partners embarks on this exciting journey in the hedge fund arena.
