Players swing at hedge fund pitch

Four prominent Major League Baseball players are major investors in a hedge fund that was launched last spring, according to Bloomberg.
OCT 15, 2007
Four prominent Major League Baseball players are major investors in a hedge fund that was launched this past March. The athletes: New York Yankees catcher Jorge Posada; Chicago Cubs outfielder Alfonso Soriano; Jose Contreras, a pitcher for the Chicago White Sox; and New York Mets pitcher Orlando Hernandez. They are listed as ``beneficial owners'' of Quantum Hedge Strategies Fund LP, according to a July 12 private placement noticed filed with the Securities and Exchange Commission according to a Bloomberg report. The financial advisers, former New York-based Merrill Lynch & Co. employees Juan Collar and Anthony Fernandez, plan to raise as much as $60 million for the fund, according to the report. The Quantum fund has raised $12 million so far and each of the players could end up owning less than 10% of the fund each, according to Mark Leeds, an attorney for the advisers' firm, cited in the report. Mr. Fernandez and Mr. Collar primarily invest in fixed income securities such as bonds, Mr. Leeds said. They generated profits for their clients earlier this year by betting against the mortgage market, according to the report. According to an investment adviser registration filed with the SEC, Quantum Family Office Group had about $54 million in assets under management as of March 21.

Latest News

People moves: RBC taps Raymond James veteran for Texas complex
People moves: RBC taps Raymond James veteran for Texas complex

Meanwhile, DPL Financial Partners adds two annuity executives and Prime Capital Financial hires a Mid-Atlantic retirement plan consultant

Ex-LPL, special needs advisor pleads guilty in fraud case
Ex-LPL, special needs advisor pleads guilty in fraud case

Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.

Advisor moves: Raymond James lands $700M Truist team in Naples
Advisor moves: Raymond James lands $700M Truist team in Naples

Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL

Investor accuses Lasater Capital of hiding $100M in fund defaults
Investor accuses Lasater Capital of hiding $100M in fund defaults

Celebrity endorsements, $500M in claimed assets, and a state regulator stepping in.

American Express to make job cuts as AI revolution ramps up
American Express to make job cuts as AI revolution ramps up

“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor