Northern Lights and Hermes launch accelerator fund with Taurasi allocation
By Lawrence Delevingne
Mon Mar 18, 2013
Ex-UBS O'Connor credit head Mark Melchiorre off to fast start.
New hedge funds now have another option to secure early-stage capital.
||Mark Melchiorre (Photo: Fairfield County Look)|
Hermes BPK Partners, a money management affiliate of U.K. communications company BT Group's pension, has partnered with U.S. private equity firm Northern Lights Capital Group to launch a new accelerator fund.
The first allocation from the $250 million fund is to Taurasi Capital Management, the trading-oriented credit firm launched by former UBS O'Connor credit chief Mark Melchiorre in September. The exact terms of the deal were not disclosed, but a person familiar with the situation said the allocation was between $50 million and $100 million, included a revenue...
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