French manager seeder NewAlpha Asset Management has announced a strategic investment with New York-based boutique Naqvi-Van Ness Asset Management.
Naqvi-Van Ness was founded in 2001 by Ali Naqvi and Albert Van Ness.
Its investment approach relies on a core quantitative driven long-short strategy on US equities mixed with uncorrelated opportunistic directional strategies seeking to find and exploit potential changes in market behavior.
The investment objective aims to generate alpha and deliver absolute returns in all market environments.
Naqvi-Van Ness’ flagship fund has $90m in assets under management.
Prior to founding NVAM, Naqvi worked at Citibank Global Asset Management where he was responsible for managing portfolios for large institutional clients.
Van Ness was also a portfolio manager at Citibank Investment Management from 1994 to 2000. He joined Ali Naqvi, managing portfolios for high net worth clients, pension plan sponsors, and sovereign investors.
Ali Naqvi, co-founder of Naqvi-Van Ness, commented : “I am glad that our R&D efforts to apply our investment expertise in a highly liquid format succeeded in the successful development of our approach.
“This strategy is an innovative addition to the existing offering of classical hedge fund strategies and we view having on board an experienced investor like NewAlpha as an independent seal of approval regarding the thoroughness of our investment process and operations.”
Albert Van Ness, co-founder of Naqvi-Van Ness, added: “Furthermore, the NewAlpha investment will accelerate the growth and increase the attractiveness of the strategy. Having a strategic investment gives us an institutional level of credibility.
“Along with our differentiating strategy to long/short equity, this should be a positive combination for clients that have us on their radar.”