Hedge Funds

Aria refocuses equity strategy on consumer stocks


Aria Partners has liquidated its $10 million diversified equity fund as part of a change in strategy.

The new game plan represents a shift away from a diversified long/short equity portfolio toward a more highly concentrated fund focused on consumer stocks, which are the particular expertise of fund managers Dana Messina and Ed Latessa.

Los Angeles-based Aria manages nearly $150 million in hedge fund assets, and its other funds, such as the Consumer Select Fund, have achieved success by following a concentrated strategy. The Consumer Select strategy, for example, may run with 20 or fewer holdings, whereas the diversified