Precept Launches Fixed-Income Arb Fund
Precept Asset Management has rolled out its first hedge fund, a fixed-income arbitrage fund. Managed by founders David Sukoff and Chris Danielian, the fund looks for inconsistencies in the pricing of global government bonds and derivatives. The fund dubbed, The Precept Master Fund is a global fixed-income arbitrage fund with both a domestic and offshore entity. The Boca Raton, Fla.-based firm is planning to relocate to New York sometime next year and at that time will be looking to add senior analysts and traders, Sukoff said.
Danielian said the firm is looking to raise USD50 million in the first year and will most likely cap the funds at USD500 million. Sukoff was formerly a portfolio manager at fixed-income arbitrage hedge fund shop AVM, which manages over a billion in assets, while Danielian previously managed the emerging markets dollar-denominated derivatives book at JPMorgan.