Hedge Funds

Western Reserve raises $60m for new long/short


Western Reserve Hedged Equity, a new Dallas-based start-up, has raised $60 million for its new long/short equity hedge fund. The domestic fund is run by Michael Durante, a former partner and portfolio manager at Ranger Capital. The fund intends to capitalize on pricing inefficiencies in the market identified through its intensive earnings-driven research. The portfolio focuses on quality services sector companies with high recurring revenue models that compound earnings at a consistent and attractive rate of growth.

Durante started his career as a banking regulator for the Federal Reserve. He also spent time at John McStay Investment Counsel,