Launches & Closures

BAM Capital founder Ross Berman prepares new firm


Equity options focused Green Owl Capital will launch November 1 with backing from two seeders.

Ross Berman is back.

The volatility arbitrage shop he co-founded in 2002, BAM Capital*, once managed a peak of about $1.2 billion in late 2008 after a string of positive returns. But investor redemptions and lower volatility hurt the fund following the financial crisis and it began liquidating in late 2010, closing in April 2011. Berman then briefly left portfolio management to be interim chief executive officer at prime broker Saxon Prime.

Now Berman is in the final stages of readying hedge fund firm Green Owl Capital Management for launch November 1. The New York-based shop plans