Aetna Vets Launch Fourth Strategy

Three Aetna veterans who formed Copernicus International, originally known as Alpha Equity, have launched the firm’s fourth strategy. The Hartford, Conn.-based shop has rolled out the Copernicus International Market-Neutral Offshore 2X Fund, according to Charlie Krusen, managing director.

Three Aetna veterans who formed Copernicus International, originally known as Alpha Equity, have launched the firm’s fourth strategy. The Hartford, Conn.-based shop with $120 million under management has rolled out the Copernicus International Market-Neutral Offshore 2X Fund, with a $1 billion target, according to Charlie Krusen, managing director. The strategy, which invests in international equities, is a 2x levered version of the Copernicus International Market-Neutral Fund, which debuted in January 2004. The firm also manages a long/short and 130/30 strategy.

Neil Kochen, Don Townswick and Vince Fioramonti, who managed over $20 billion in quantitative investments at Aetna for almost a decade, are the fund’s portfolio managers. None of the portfolio managers were available to comment. The fund has a $1 million investment minimum, 2/20 fees and monthly liquidity. Morgan Stanley is the prime broker.