So, former Fortress PMs Philippe Peress and Jonathan Ratcliffe are apparently starting a hedge fund, scheduled to launch sometime between July and August. Can't say we're particularly interested, given that our money is already locked up in Ball Gag Capital, but perhaps one or two of you might be? As of mid-June only $50 mill had been raised, so it'd be nice if someone would fork over a little cash. If you need convincing, the marketing materials, which were dropped outside our door in an envelope marked only "Dealbreaker" sans address about ten minutes ago,* can be found after the jump.
*Guessing the cloak and dagger nature of it all had something to do with the issue of the SEC frowning upon this sort of thing but for future reference to any of you budding managers looking to have DB disseminate your business, know that we don't bite unless expressly asked to do so and have no problem going to jail for our sources.
Liquid Macro Harness [PDF]
Posted by guest , Jun 24, 2009 1:10PM
Investor Relations chick's name: Nina Gineva. I love a good rhyme.
Posted by guest , Jun 24, 2009 1:13PM
Makes me feel better about my Investor Presentation.
Posted by guest , Jun 24, 2009 1:17PM
nice graphs
Posted by guest , Jun 24, 2009 1:18PM
Now I see why Madoff's model was so attractive to investors.
Posted by guest , Jun 24, 2009 1:20PM
this will not end well
Posted by guest , Jun 24, 2009 1:24PM
@2
Beat me to it, ha.
Posted by american bandersnatch , Jun 24, 2009 1:25PM
I am mesmerized by the pretty graphs and charts. I feel a strange desire to hand them my wallet.
Posted by guest , Jun 24, 2009 1:25PM
Yup, it's confirmed, Phil is still a douche....
Posted by guest , Jun 24, 2009 1:30PM
Under Risk Assessment, are the stress tests handled in house, or are they just going by TG and Beardo's pipe dreams?
Posted by guest , Jun 24, 2009 1:30PM
Its inWESTor!
Posted by guest , Jun 24, 2009 1:39PM
Will they be setting up shop in Dallas?
Posted by guest , Jun 24, 2009 1:39PM
Wouldn't some softcore porn help this? There aren't any rules against softcore in an soi or prospectus.
Posted by guest , Jun 24, 2009 1:46PM
their returns look as bad as their presentation...
Posted by guest , Jun 24, 2009 1:46PM
Page 14 of this "Understanding how to benefit opportunistically from the
asymmetrical pay-offs that accrue when uncertainty is crystallised by an event trigger enhances performance returns and preserves capital"
Page 16 of the original Brevan Howard marketing material circa 2003: "Understanding how to opportunistically benefit from the asymmetrical payoffs
that accrue when uncertainty is crystallised by an event trigger"
probably just a coincidence...
Posted by guest , Jun 24, 2009 1:48PM
their returns look about as good as their WP-work.
maybe they have serious charm, but somehow i doubt it.
can't see how this raises any $
Posted by guest , Jun 24, 2009 1:48PM
skeet skeet skeet
Posted by guest , Jun 24, 2009 1:48PM
NINA GINEVA NINE VAGINA
Posted by guest , Jun 24, 2009 1:48PM
Page 14 of this "Understanding how to benefit opportunistically from the
asymmetrical pay-offs that accrue when uncertainty is crystallised by an event trigger enhances performance returns and preserves capital"
Page 16 of the original Brevan Howard marketing material circa 2003: "Understanding how to opportunistically benefit from the asymmetrical payoffs
that accrue when uncertainty is crystallised by an event trigger"
probably just a coincidence...
Posted by guest , Jun 24, 2009 1:50PM
@15 they've raised 50 mm
Posted by guest , Jun 24, 2009 1:57PM
Monitoring is good, and they do monitoring.
Posted by guest , Jun 24, 2009 2:00PM
They should hire that guy from Madoff who is proficient in Excel and Word...spruce up that document a bit.
Posted by guest , Jun 24, 2009 2:01PM
They should hire that guy from Madoff who is proficient in Excel and Word...spruce up that document a bit.
Posted by guest , Jun 24, 2009 2:13PM
If I was an investor, and looked at that presentation...I would laugh and move along, that was Busch League..BUSCH
Posted by guest , Jun 24, 2009 2:16PM
-@19
That was @15's point I think. $50? What do you do with that?
Posted by guest , Jun 24, 2009 2:24PM
my money's all in Prestige Worldwide
Investors?? You??
Posted by guest , Jun 24, 2009 2:33PM
Nina Gineva graduated from the University of Geneva
I swear to God. You can't make this shit up (or are they?!)
Posted by guest , Jun 24, 2009 2:56PM
It's pronounced Gyneva you pricks.
Posted by guest , Jun 24, 2009 3:51PM
Comment removed by moderator.
Posted by guest , Jun 24, 2009 4:20PM
Bess - I'm starting Morningwood Capital Management. Let me tell you about our firm:
Our investments will focus mostly on the resession proof global vice sectors: Porn, Booze, Prosties/Escorts, Gak, and Junk Food.
Our risk management process is triggered by use of the safeword expression "BLANUS FEATHER", at which point we pull out of Margret, ahem, the market, put on a silk robe, smoke a doob and lay back our plush porno-set inspired office furniture.
Our investment staff includes: Daniel Poon, head of trading; Harry Bollocks, CIO; Lahrge Johnson, Cuntitative Modeling; and Connie Lingus, Head of Back Orafice Relations.
Investors must be accredited and over the age of 18. Capital lockups will apply but investors can opt out by signing a BDSM waiver.
Can you help us get the word out and raise some cash?
Posted by guest , Jun 24, 2009 4:22PM
"efficient usage of capital"
I'm sold.
Posted by guest , Jun 24, 2009 7:22PM
gnom! like a baby's arm...
Posted by guest , Jun 24, 2009 9:36PM
Im a seller
Posted by LeverHedge , Jun 25, 2009 1:51AM
Comment removed by moderator.
Posted by LeverHedge , Jun 25, 2009 4:01AM
Good Evening,
We have been requested by the Fortress Investment Group to remove any
references to the performance history and track record information made within the Harness Liquid Macro Fund presentation materials (at pages 5 and 6) which we have provided to you.
We kindly ask you to remove and delete these pages from your files and
replace them with the attached updated presentation materials.
We look forward to discussing the opportunity set within the
macroeconomic investment environment and meeting at your convenience
Best
Philippe
PHILIPPE PERESS
Chief Executive Officer
Harness UK LLP
1a Avery Row
London
W1K 4AJ
Tel: + 44 207 290 7740
Mobile + 4179 373 0508
Posted by LeverHedge , Jun 25, 2009 4:02AM
Good Evening,
We have been requested by the Fortress Investment Group to remove any
references to the performance history and track record information made within the Harness Liquid Macro Fund presentation materials (at pages 5 and 6) which we have provided to you.
We kindly ask you to remove and delete these pages from your files and
replace them with the attached updated presentation materials.
We look forward to discussing the opportunity set within the
macroeconomic investment environment and meeting at your convenience
Best
Philippe
PHILIPPE PERESS
Chief Executive Officer
Harness UK LLP
1a Avery Row
London
W1K 4AJ
Tel: + 44 207 290 7740
Mobile + 4179 373 0508
Posted by guest , Jun 25, 2009 9:29AM
Free press: not censorable by the IR dept of your former employer, especially not for fabricating your track record there. Sorry, maybe try contacting google china if you want your misinformation blocked.
Posted by guest , Jun 25, 2009 9:44AM
I love the legalese. Have Brevan Howard's lawyers contacted you to advise that you should tell DealBreaker they aren't allowed to cite your plagiarism of their 2003 prospectus? ? ?
Posted by LeverHedge , Jun 27, 2009 3:12PM
I don't understand why my earlier comment was deleted by the moderator except that Peress must have somehow protested the truth being out there about him.
Raised 20 mio at 1/2 fees from a bucketshop, not 50.
Lost 200-300 mio in his final year at Fortress.
Completely fraudulent track record that he had to remove from the prospectus and write that letter to all who had been sold a false bill of goods.
Those are facts and not slanderous and not in any way worthy of deletion by the moderator. Please let the truth be told.