Hedge Funds

Ex-AIM manager launches fund


James Ellman, a former portfolio manager for Merrill Lynch Investment Managers, has opened up shop. Ellman recently launched a global long/short equity hedge fund called Seacliff Capital Fund. Based in San Francisco, the fund focuses on the financial services sector, specifically looking at broker-dealers, regional banks and insurance companies. At Merrill, Ellman managed $1 billion within Merrill Lynch Global Financial Services Fund and a pair of large-cap U.S. and global funds. He left Merrill early last year to join a hedge fund. Before Merrill, he was a portfolio manager at mutual fund giant AIM Funds, where he managed