Sierra Global Management, the New York-based European
long/short equity investment firm headed by Charlie Michaels,
has seen a big jump in its assets under management following
strong performance in 2008 and continued gains in 2009.
Sierra also managed to retain assets over the past two years,
despite having monthly liquidity during a period of heavy
redemptions throughout the industry.
The firm runs Sierra Europe, one of the longest-running
hedge funds focusing on European long/short equity, which
debuted in October 1996. The strategy now manages $160 million,
a 35% gain over last year, and...