Hedge Funds

Mosaic starts less volatile tech fund

by

Mosaic Asset Management recently launched a second fund that employs a less volatile pairs trading strategy. The new fund, called Mosaic Vitruvian Technology Fund, will open to outside investors on January 1.

The San Francisco-based firm, which is run by former Pequot Capital Management technology analyst Scott Nirenberski, plans to raise as much as $500 million for this second fund.

At the same time, it has also hired Peter Best, formerly with Presidio Management, as co-portfolio manager along with Nirenberski of the new fund and the firm's flagship strategy, a global technology fund launched in 2000.

The fund