New Jersey-based Stone Toro Asset Management is rolling out an event-driven arbitrage hedge fund, FINalternatives reports. The ST Alpha Event Fund focuses on short-term, high-information events with defined catalysts.
Jeffrey Russo, Stone Toro co-founder, will serve as portfolio manager of the new fund. The new vehicle follows an absolute return strategy and seeks to have a low correlation to the equity markets. It employs a global, multi-strategy approach to event-driven arbitrage.
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