Hedge Funds

Corriente reopens flagship


Corriente Advisors, Mark Hart's highflying Dallas hedge fund shop, is planning to reopen its flagship long/short equity fund to new capital, effective January 1. New investments will be subject to a two-year lockup.

The firm, which now runs $1.15 billion overall, closed Corriente Master Fund earlier this year to concentrate on enhancing back-office functions. Corriente has since hired two CPAs, a trading assistant and a chief compliance officer.

The flagship fund, which currently manages $444 million, produced a net return of 76.72% this year through October. The fund boasts a net annualized return of 40.94% since its inception