Richard Keller, a former partner at Sandler Capital Management, has formed Greenwich, Conn.-based Angler Capital and launched the first fund, a long/short strategy, at the beginning of the month. The Angler Capital Partners fund is long-biased and takes a private equity approach, targeting companies with a market cap of $2 billion or less, Keller said.
Keller formed Angler Capital at the end of 2004. Prior to that, he spent four years at Sandler. His fund carries a $1 million investment minimum, 2/20 fees and a one-year lockup. Bear Stearns is the prime broker.