MIP Global (Mosaic Investment Partners), a US-based financial services firm, has completed the acquisition of Chessica Asset Management.
As part of the deal, both the firms have together launched a new hedge fund, called the Mosaic Premium Fund, according to Opalesque.
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The Premium Fund will follow a similar index options premium strategy that they have traded for the past 20 years in separate accounts.
Alex Rabinovich, managing director of Chessica Asset Management said that the fund’s strategy will be based on a proprietary global market momentum analysis model that is used to exploit inefficiencies in underlying indices and their options.
Additionally, the fund will focus in short and medium term call and put options in one or more publicly traded index securities.
Chessica Asset Management was established in 2009 by Victor Plotkin, while MIP Global was set up by Lee Weiss, who was formerly the president of Fidelity Investments’ Family Office, and who created and led Merrill Lynch’s Private Banking and Investments Group in New York.
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By GlobalDataRabinovich said: "We have found a true partner who is providing us with world class technology, back office and capital raising capabilities, freeing us up to focus on generating top tier investment performance."
MIP Global specializes in asset management, wealth management and investment banking.
