Hedge Funds

Convexity set for mid-February mega-launch

by

Convexity Capital Management, the new alternative asset management firm set up by former Harvard University endowment chief Jack Meyer, is set to begin trading in mid February with roughly $6.3 billion in assets.

If all goes as plans, Convexity will be the biggest hedge fund launch ever, far exceeding the $3.5 billion raised by Eric Mindich for Eton Park in 2004 or the $2.8 billion raised by Dinakar Singh's TPG-Axon Capital for its February 2005 launch. (TPG-Axon went on to nearly double its capital, reaching $5.49 billion by December 1.)

Convexity, which will focus on fixed-income strategies, is generating a