John Stephenson, a former fund manager of First Asset Investment Management, is planning to launch his own million hedge fund firm called, Stephenson & Co. Capital Management.
He’s targeting C$40 million to C$50 million for his Stephenson and Company North American Opportunity Fund LP which he expects to start in August, according to Bloomberg.
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The long-short hedge will initially be targeted the US market and seeks to invest 70% of its assets in US equities and 30% in Canada.
The vehicle aims to take benefit of potential volatility in high trading stock markets.
Stephenson said: "There are pockets of opportunity. Commodities will take a back seat for the next few years.
"In the last few years, it probably hasn’t mattered if you had alternative investments or not because the market was going straight up," he added.
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