David Cleary, CIO and partner at investment business Crow Point Asset Management, is spinning out of the fund with two global macro strategies. Under the newly funded entity, Timber Point Capital Management, Cleary and his partners will manage two strategies, previously under the wing of Crow Point. The firm will start with $100m in AUM, said Cleary. He is aiming to raise another $100m in capital within the year. The firm currently has between $5–$10m in additional commitments.
The new round of fundraising will primarily target wealth managers and advisers. “Timber Point has a hybrid mandate. We’re taking hedge fund techniques and applying them to a daily liquid investment vehicle. “I’ve been a macro investor for a long time. I ran the strategy at Lazard for many years, and I then spun out to a small partnership [Crow Point]. When I was at Lazard, I realized I wanted to do this at a smaller venue and have more control.” The directional global macro strategy will invest across asset classes, including stocks, bonds, commodities and currencies. “We believe the current market is such that strategies like this one will have a greater application,” said Cleary. “The problem with the market over the past few years has been that it has largely been dominated by US large-cap equities, particularly in tech. Anything outside of that space ended up being an underperforming asset class. “We think that this environment is going to bring out definitive winners and losers in asset classes, sectors and all the way down to securities.”
Written by Victoria Pavlova at HFN Global
For more information on Timber Point’s Global Allocations Strategy, click on the following links..
Karol Krucinski, CFA is a Director of Portfolio Management at Timber Point Capital Management and Fortis Capital Advisors where he co-manages investment strategy implementation and portfolio construction while leading the firm’s Direct Indexing platform and trading oversight. His client work encompasses developing customized portfolio solutions and analysis of complex investment scenarios including concentrated positions and tax-sensitive transitions. Karol’s experience spans quantitative analysis, portfolio optimization and risk management across diverse asset classes.
Kirsten Stainer has extensive experience managing institutional and private investor relationships while structuring and leading capital formation efforts across both debt and equity strategies. In addition to her experience in real estate, Kirsten has led Series A and B raises at Founders Fund and Battery Ventures backed startups and scaled enterprise revenue streams with teams at JPMorgan Chase and Clearwater Analytics.
Manish Shah, J.D. has decades of experience investing across the capital stack and various alternative investment classes. He has served as a principal and manager of numerous real estate investments, including control equity, preferred equity, mezzanine and senior debt investments. His prior experience includes the turnaround of a publicly traded company (acquired NYSE: EMR) where he was responsible for business and real estate acquisitions and divestitures.
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