Bloomberg – Moore Capital Management LLC is seeking to raise as much as $500 million for two new hedge funds run by Greg Coffey, the top-ranked money manager who joined the company last year after quitting GLG Partners Inc., according to an investor.
The funds, both focused on emerging markets, started trading April 1, said the investor, who asked not to be identified because the information is private. Fees are 2 percent of assets, standard for the industry, and 25 percent of investment gains, more than the typical 20 percent.
