Hedge Funds

Everest ratchets down risk for latest offering


Everest Capital Management has begun offering to investors a less volatile and less directional - but also likely less profitable - version of its high-performing global macro fund.

The new Everest Capital Alpha, which will begin taking investments on April 1 and is being referred to by Everest as a multi-strategy fund, will operate somewhat as a feeder vehicle, allocating capital to the existing Everest Capital Global, a global macro fund.

Run by Marko Dimitrijevic, the $430 million Everest Capital Global has produced an impressive 14-year average annual return of 33.4%. But it has also logged a whopping