Moore Capital is spinning off its $1.6 billion fund of funds, Alstra Capital Management.
Under the terms of the arrangement, Moore is understood to be retaining a minority interest in the firm. Alstra will also continue to run money for Max Re, the Bermuda reinsurer that Moore founded. But going forward, Alstra will be able to market itself to a broader array of investors, raise additional assets and offer new kinds of products.
As before, Zack Bacon, brother of Moore founder Louis Bacon, will hold the role of president and chief investment officer, while