Hedge Funds

Long-time affiliate piggybacks on Paloma


A team of event-driven, multistrategy managers is preparing to offer to outside investors a lucrative strategy that it has been running for Paloma Partners.

West Face Capital of Toronto has produced a remarkable five-year annualized net return of 45% for Paloma. The strategy is understood to be one of Paloma's longest-running and highest-performing.

The firm's new fund, which will be run identically to the Paloma account, is expected to launch and close with $500 million as early as this month.

West Face is headed by Gregory Boland, who has run money for Paloma since 1998 and was previously