Hedge Funds People Moves

Newbrook taps Arrow executive as head of business development


Newbrook, which was founded by Karsch Capital alum Robert Boucai in 2006, has produced solid gains this year.

Newbrook Capital Advisors, a long/short equity hedge fund firm founded by Karsch Capital Management alum Robert Boucai, has hired Ivan Wanat from Arrow Capital Management to oversee fundraising. Wanat has been named head of business development, a new position. The firm’s sole fund, Newbrook Capital Partners, which manages approximately $300 million, returned 7.9% through April 30. Its net annualized return since its February 2006 inception is 10.1%.

Newbrook may have an easier time raising money this year, as it beat the AR U.S. Equity Index in 2010, after lagging slightly in 2009 and 2008. Last year, Newbrook gained