Hedge Funds

Sierra Global celebrates AUM leap after strong 2009


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.

Charlie Michaels

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