Hedge Funds

San Francisco startup targets small caps

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An alumnus of Symphony Asset Management and a veteran of Scion Capital have teamed up to form Soma Asset Management and prepare to launch a long/short equity fund that targets small-cap and microcap stocks.

Igor Lotsvin and David Chu’s first fund, Soma Isosceles Opportunity Fund, will open in the second half of the year.

San Francisco-based Soma will concentrate on companies with little or no sell-side coverage that are too small and illiquid for sophisticated investors to pay attention to.

Lotsvin most recently co-managed San Francisco-based Symphony’s flagship long/short equity fund. Previously, he was a high-yield distressed securities