Hedge Funds

Stadia co-founder lines up diverse global long/short

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Stadia Capital co-founder Enrique Abeyta, who left the firm in late 2006, is looking to raise as much as $500 million for the second-quarter launch of a global long/short equity fund.

New York-based 360 Global Capital's flagship fund will invest in seven industries - energy, utilities, media, telecommunications, industrials, materials and transports - that encompass about 1,400 securities worldwide, are cyclical, and tend to lack correlation to each other. The fund will use fundamental research to make investment decisions and will employ leverage of not more than two times capital.

Abeyta, Richard Swift and John Fleming, all formerly of