Basswood Capital Management has unveiled a new hedge fund, HFMWeek reports. The Basswood Financial Fund will seek to invest in U.S. financials across all market capitalizations and has 30 long positions and 40 short ones.
The fund has $25 million of internal capital and has a capacity of about $500 million. The co-founders of the $400 million U.S. long/short equity hedge fund manager, Matthew Lindenbaum and Bennett Lindenbaum, will act as the portfolio managers of the new vehicle.
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