According to FinAlternatives, Carl Icahn's former right-hand man is half-way to his goal of raising $1 billion.
Keith Meister's Corvex Capital has netted almost $500 million in assets since its launch in March, HFMWeek reports. The New York-based event-driven fund was seeded to the tune of half that amount by Soros Fund Management and hopes to raise at least $1 billion by the end of the year.
Corvex charges 1.5% for management and 20% for performance. The fund features quarterly redemptions after a one-year soft lockup—early exiters will pay a 3% redemption fee—with 60 days notice and a 25% gate. Goldman Sachs and JPMorgan Chase are prime brokers...
Click here to read more.