Fund launches & closures Hedge Funds

Greenlight, Ivory alums, seeking value, start Coastal

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In another sign that the freeze in new-fund launches may be thawing, two former analysts, Vlad Artamonov of Greenlight Capital and Todd Plutsky of Ivory Investment Management, are starting out with no formal investment track record, but a lot of a confidence: They are targeting 20% returns.

The two founders of Coastal Investment Management plan to launch their maiden long/short equity fund, Coastal Investment Partners, in July. As of late June they were hunting for a chief financial officer/controller and analyst.

The pair met at Harvard Business School. They won't say whether Greenlight or Ivory has given them