Hedge Funds

Bank of American executive creates Exponent growth fund


Randall Baum, a former managing director within Bank of America's private client services group, has opened up Exponent Capital and launched his first hedge fund, Exponent Partners. The San Francisco-based fund employs a long/short, growth-oriented strategy. Baum has already generated an interest among investors who are expected to commit assets upwards of $30 million to the firm in the next couple of months.

The fund, which is long-biased, uses options as a risk management tool to reduce risk and raise returns. It will invest in any sector that is outperforming the gross domestic product, particularly focused on technology,