Adam Ryan and Hari Ramanan, two former executives of the US-based Eminence Capital, are planning to launch their own hedge fund called Valarc Holdings in New York.
The new fund, which aims to build a portfolio of global stocks, is expected to begin trading in January 2014 with in an initial capital of about $200m, reported the Wall Street Journal citing people familiar with the situation.
At Eminence, Adam Ryan was a senior analyst, while Ramanan was a portfolio manager.
Valarc is seeking investors who are interested to invest in the fund with lock-in period of at least four years, reported the news source citing people.
Of the new hedge funds launched since 2011, about 72% started with no lock-up restriction. According to HedgeFund Intelligence, only 5% hedge funds were able to restrict withdrawals for four years or more.