Hedge Funds

Philidelphia Financial to launch first fund


Jordan Hymowitz and Justin Hughes, who have joined forces to start Philadelphia Financial, are gearing up to launch their first fund. The duo are planning to roll out a long/short financial services fund on June 1.

Boathouse Row Onshore will invest a minimum of 80% of its assets in domestic, publicly-traded equities in the financial services sector, such as banks, thrifts, mortgage companies, brokerage firms, insurance companies, REITS, homebuilders and other related companies. The other 20% will be invested in other areas where the principals have expertise.

Hymowitz hails from David Ganek's Level Global, where he was a