Hedge Funds

Feshbach up and running with long-only fund

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Acclaimed short-seller Joseph Feshbach has resurfaced on the West Coast with a long-biased hedge fund.

The Woodside, Calif.-based Joe Feshbach Partners has started with $17 million in assets, of which a majority comes from Feshbach's family. The new fund will employ a "crisis investment strategy," investing in mid-sized companies that have attracted negative attention due to regulatory investigations, management turnover or earnings shortfalls.

Feshbach's earlier fund was a short-biased vehicle that he ran with two brothers in the 1980s and 1990s and unwound in 1991, when the Nasdaq's huge gains made their short-selling strategy too difficult to maintain.