Launches & Closures Hedge Funds

“Hot Pockets” founders to launch equity fund


The strategy dropped about 3% in 2008, but gained approximately 20% in 2009.

From the makers of the “hot meal in a pocket” comes a consumer-focused equity hedge fund. Falcon Investment Management, the hedge fund arm of the Merage family office, founders of Chef America which invented Hot Pockets, launched a long/short equity hedge fund on Jan. 1. Portfolio Manager Richard Merage oversees the Falcon Consumer Fund, a long/short strategy which currently manages $119 million of the Merages’ wealth.

This is the first time the family will open the consumer strategy to outside investment. “What they found over the last couple of years is they had a specific expertise in the