Stockholm (HedgeNordic) – Brummer & Partners is backing the launch of a fundamental long/short equity hedge fund managed by former Millennium Management portfolio manager, Priya Kodeeswaran. The soon-to-be-launched hedge fund under the umbrella of Katamaran Capital is set to launch in early 2024 and will receive a $350 million investment from Brummer Multi-Strategy (BMS) right from the outset.
Priya Kodeeswaran’s strategy will be supported by Brummer & Partners’ risk management infrastructure and the expertise of the BMS portfolio management team. “My prior strategies have always been focused on the philosophy of generating alpha out of change,” explains Kodeeswaran. “The current market environment is full of change and we plan to use our dispersion lens to generate returns which are alpha-dominated,” he elaborates. “We chose Brummer due to its partnership approach, longer duration horizon, and for the opportunity to truly diversify our investor base.”
“We chose Brummer due to its partnership approach, longer duration horizon, and for the opportunity to truly diversify our investor base.”
Kodeeswaran boasts 26 years of experience as a portfolio manager and trader, specializing in innovative companies. Before founding Katamaran Capital, he held portfolio manager positions with a similar focus at Millennium Management, Man GLG, and RWC Partners. After four years as a senior portfolio manager at Man GLG, Kodeeswaran launched an innovation/disruption-focused equity long/short strategy at Millennium Management in late 2020. Zhancheng Li, who worked with Kodeeswaran at Millennium and Man GLG, is also a co-founder of Katamaran Capital and serves as Head of Research.
Priya Kodeeswaran and Zhancheng Li will employ a fundamental long/short equity strategy with a focus on the technology, media and telecommunications, and consumer discretionary sectors in the United States and Western Europe. The team will pursue alpha by capitalizing on dislocations resulting from earnings or performance dispersion, often driven by change and innovation. Brummer Multi-Strategy, which maintains a well-diversified portfolio of strategies managed within Brummer & Partners, will allocate to Katamaran Capital’s strategy from day one.