Reuters UK- If investing in hedge funds these days seems about as certain as betting on the ponies, why not a fund to buy and race thoroughbreds?
The New York Times reported on Monday that International Equine Acquisitions Holdings is raising $100 million for a hedge fund that will buy, sell, race and breed horses, charging management fees and taking a percentage of any investment gains. The founders, ex-Wall Street denizens Michael Iavarone and Richard J. Schiavo, want to take their company public by year-end.
IEAH wants to “remake the economic landscape of a multibillion-dollar industry,” the Times reported.
