The family office of David Bonderman, founding partner at private equity giant TPG Capital, has started a new unit to offer its strategies externally to outside clients, HFMWeek has learned.
Wildcat Capital Management, based in New York and Texas, manages more than $1bn for Bonderman and has launched a new division named Infinity Q Capital Management.
Its first offering, the Infinity Q Diversified Alpha Fund, is expected to launch in August in a mutual fund format, with a strategy mirroring a Wildcat offering which has been operating since August 2012.
Core strategies include volatility, global macro, equity long/short and relative value. Wildcat will seed it with $25m and the strategy can hold $2bn.
“We are most excited about the relative value opportunities in our commodities portfolio, and the short-term option positions in our volatility portfolio,” said James Velissaris, CIO at Infinity Q. “We think forced selling/covering by hedge funds will continue to create opportunities as we observed during the first half of 2014.”
Velissaris and Potter will be the portfolio managers on the fund. Velissaris previously held positions at Goldman Sachs, Arden Asset Management and TPG Capital. Before becoming CIO of Wildcat, Potter was co-head of private equity for Soros Fund Management.
Infinity Q’s service providers include US Bancorp as the fund administrator and custodian, Bank of America Merrill Lynch as the prime broker, Ropes & Gray as the legal counsel and KPMG as the auditor.