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Adage tech PM Bruce Garelick preps fund


Garelick Capital Partners is targeting an October launch.

Bruce Garelick, who served as the long/short technology portfolio manager at $16 billion Adage Capital Management from 2005 to 2011, is preparing a new tech hedge fund firm for an October launch.

Garelick Capital Partners is now raising money for its flagship Garelick Capital Partners Fund, which will employ a long/short tech strategy targeting low net exposure and a low correlation to the equity markets. The Boston-based fund will invest in highly liquid stocks globally, usually 50 to 60 positions at a time.

It was unclear how much capital the firm is hoping to raise. Garelick declined to comment.