08.09.2010

One-time PE Mgr Raises Hedge Fund

Jie Li, a former private equity deal-maker, has launched her own hedge fund firm in Chicago.
Li’s Reflexion Capital was launched on July 1. Her Delaware-incorporated fund will have a long-short equity strategy while focusing on the global industrial and basic materials sectors.

Li told HedgeFund.net her firm has already invested in companies in the United States, Canada and Hong Kong.

She declined to comment on the fundraising goals of her fund or how much in assets under management she has so far.

Minimum investment is $1 million, according to Li.

Li’s career began at Morgan Stanley, where she worked in the investment banking arm in New York and London. She also sourced and executed deals for One Equity Partners, the private equity arm of JPMorgan.

After that, she joined Trellus Management Co., a hedge fund firm based in New York. Li headed up the firm’s Asian investment efforts.

Most recently, Li was in charge of investment research on industrial and other cyclical sectors at Aragon Global Management, a hedge fund firm based in Chicago.

The fee structure for Li’s new fund includes a 1.5% management fee as well as 20% performance fee.

Reflexion’s administrator is Opus Fund Services (Bermuda), the auditor is Spicer Jeffries, Lazard Capital Markets is the prime broker and Cole-Friedman & Beugelmans is the law firm.