First hedge fund for Utendahl


Utendahl Capital Management, run by John Utendhal, will be launching its first hedge fund, the UCM Mortgage Partners L.P., in an innovative move to satisfy the growing demand from public pension funds and municipalities for investment products run by 'minority'-owned financial firms.

The trend for major institutions to put a significant part of their assets into minority-run investment products has already gained momentum in the long-only world, and the move by Utendhal suggests that it could be about to take off in the hedge fund space where there are only a handful of minority-owned funds.

The first UCM fund will