Hedge Funds

BMG incubates first multi-strategy fund

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San Francisco-based BMG Partners recently began incubating its first fund, Proteus Pacific. Daniel David will manage the fund, which takes a multi-strategy approach. David was instrumental in the development of John Glaser's JMG Triton Offshore, which now manages more than a billion in assets.

David is joined by Keith Coulston, formerly a senior trader at EGM Capital, the money management firm that recently bought itself out from founder Michael Jackson.

The fund's core strategy will consist of directional trades and positions based on fundamental and technical analysis. The strategy will also use non-linear products such as options and