Hedge Funds

Strasser is the latest Andor alum to go it alone

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David Strasser is the latest Andor alum to strike out on his own. He has teamed up with former Exis Capital portfolio manager Michael Keohane to start an equity fund at the beginning of next year. The pair plan to raise $150 million in assets for their new venture, New York-based Moda Partners.

The fund will focus on the retail and consumer sectors within the S&P 500. Currently, retail and consumer stocks comprise 25% of the S&P. It is targeting absolute returns of 12%-18% annually, with 20% coming from market opportunity trades and 80% from longer-term investments. Longer term