Hedge Funds

Pistole goes on the defensive

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Carl Pistole, a former portfolio manager at Trove Partners, has launched Epsilon Market Neutral, a fund which will focus on defense, aerospace and air transportation companies. Based in Denver, it is already up 8.85% since its launch earlier this year.

Epsilon focuses on aerospace and defense stocks because it believes they are a relatively inefficient market. Also, defense transformation and airline restructuring are currently causing dramatic changes in the industry that represent great investment opportunities. The fund does not employ leverage.

Trove Partners, based in Chicago, is a utility-sector hedge fund firm that was forced to return assets to investors