Hedge Funds

WellCap snags former Ivory president


Los Angeles-based WellCap Partners has hired Joseph DiMartino as president and chief operating officer. DiMartino's career highlights include a stint as president of Curtis Macnguyen's Ivory Capital Group, where during his tenure he was instrumental in the firm's seed deal with FrontPoint Partners.

In his new role, DiMartino will be responsible for all of WellCap's operating and business management activities along with marketing and investor relations. WellCap, a long/short value fund that currently manages approximately $100 million, was founded by Alan Schram. Through the end of March, the fund has an annualized net return of 21.45% since its