Hedge Funds

Gruss & Co rolls out its 'best ideas' fund


New York-based Gruss & Co. has rolled out its new multi-strategy fund, Gruss Global Investors. The fund is managed by Martin Gruss and team, and focuses on a variety of "best ideas" approaches in merger arbitrage, distressed, and special situations. Liquidity is subject to a one-year lockup, with a $5 million minimum investment and 1.5:20 fee structure.

The partners specialize in event investing, demonstrated by the 29.75% annualized compound return of their Distressed Opportunity fund since its inception in May 2001. A $50 million proprietary model of Global Investors has gained 13.69% since May 2003, and opened last