Basswood Capital Floats Financial HF

Basswood Capital Managementhas unveiled a new hedge fund,HFMWeekreports. TheBasswood Financial Fundwill seek to invest in U.S. financials across all market capitalizations and has 30 long positions and 40 short ones.

The fund has $25 million of internal capital and has a capacity of about $500 million. The co-founders of the $400 million U.S. long/short equity hedge fund manager,Matthew LindenbaumandBennett Lindenbaum, will act as the portfolio managers of the new vehicle.

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