Key Facts
- ✓ Mecox Capital Partners is launching with $50 million in assets.
- ✓ Peter Borish, a cofounder of Tudor Investment Corp, is a backer.
- ✓ Richard Passer, former executive at Satori Fund, runs the firm.
- ✓ The fund will focus on short-term-duration options trading.
- ✓ Trading is scheduled to begin on January 1.
Quick Summary
A new hedge fund, Mecox Capital Partners, is set to begin trading with $50 million in assets. The firm is backed by Peter Borish, a founding partner of Tudor Investment Corp. Richard Passer serves as the founder and chief investment officer.
The fund will focus on options trading and is based in Bridgehampton. Trading is scheduled to start on January 1. The leadership team includes Kiran Srinivas as chief portfolio officer.
Mecox Capital Partners Launch Details
Mecox Capital Partners is a new hedge fund launching with $50 million in assets. The firm is focused on options trading and will begin trading on January 1 of the new year. The fund is named after a bay in the Hamptons and is based in the Long Island hamlet of Bridgehampton.
The firm was founded by Richard Passer, a former executive at Dan Niles' Satori Fund. Passer stated that the fund will focus on short-term-duration options. Typically, the firm plans to put on between three and five trades in a day.
"Discretionary trading is particularly challenging, but Richard has the discipline to succeed."
— Peter Borish
Peter Borish's Involvement
Peter Borish, a founding partner of Paul Tudor Jones' hedge fund, is a backer of the manager. Borish was a cofounder of Tudor Investment Corp alongside billionaire Paul Tudor Jones. He is also a founding trustee of the Robin Hood Foundation, a New York-based charity focused on alleviating poverty.
Borish expressed support for the new firm via email. "Discretionary trading is particularly challenging, but Richard has the discipline to succeed," Borish said. Passer noted that the two first met years ago playing pickup basketball and have remained in contact since.
Leadership Team and Background
Richard Passer will serve as the firm's chief investment officer. He began his career as a trader for asset managers Endeavour Capital Advisors and Vollero Beach. Most recently, Passer was head of marketing and investor relations for the Satori Fund. He has also served as the COO of funds such as Stone House Partners and 1 Main Capital.
Kiran Srinivas will serve as the chief portfolio officer. Srinivas has held investment roles at major hedge funds for more than two decades. His experience includes positions at D.E. Shaw, Millennium, and Maverick. Most recently, he was a portfolio manager at First New York.
