Indar Capital has entered into a strategic relationship with Tages Capital and launched Indar European Special Opportunities fund, which implements an opportunistic deep value plus catalyst strategy focused on liquid European equities and distressed situations.
Roman Zurutuza left Gruss Capital Management in December 2017 to form Indar Capital. He has been joined by his analyst team from Gruss, Adrian Taylor and Carlos Soriano, who have worked with him for almost 10 and 4 years respectively. Raza Khan joins as COO, together with Tyson Appadoo as Trader and Priti Anda, also ex-Gruss, as head of Operations. Khan was previously a founding partner at Canosa Capital LLP and Powe Capital LLP. The team will continue to apply the same strategy and processes that Roman practiced during his 15 years at Gruss.
Indar Capital expects the fund to launch with approximately $70m in early July. Substantial additional commitments have been made which should materialise in coming months.
Mark Smith – former joint-CIO at Gruss until 2013 – and Emilio Saracho, former Global Vice-Chairman of JP Morgan – have also joined Indar Capital as advisors.