Hedge Funds

Hobson starts with $500m of assets


Lee Hobson's Highside Capital opened up for trading with more than $500 million in assets. The former partner at the $7.5 billion Maverick Capital will run his new fund in a similar way to Maverick's long/short, multi-sector strategy. He wil focus mostly on U.S. equity with limited exposure to Europe and Latin America.

The firm also employs a unique fee structure not unlike one first proposed Lone Pine Capital, which allows the firm to earn a performance fee even if the fund returns below its high-water mark.