Hedge Funds

Verity founders reunite for new fund


Two of the three founders of Fort Worth-based Verity Capital Partners, the multistrategy hedge fund launched by Carlson Capital veterans, have banded together again to form a new venture after closing down Verity in September.

Bo French, Scott Lydick and Doug Shippee have started Fort Worth-based Trugent Capital and are rolling out a sector-focused long/short equity fund this month. The trio has received seed capital from an undisclosed group, indicating that the firm is starting on somewhat different footing than Verity, which struggled to raise capital.

Verity was launched in September 2005 and never took in more than $40 million.