The new fund will launch on November 11
Francesco Trapani will launch a hedge fund alongside two advisors of Elliott Management. The former head of Italian jeweler Bulgari SpA is partnering with Marco Taricco and Giuseppe Bivona to start the Bluebell Active Equity Fund. The fund will launch Nov. 11 with roughly 50 million euros ($55.7 million) under management.
Taricco and Bivona co-funded Bluebell Partners in London. The three of them had worked with Elliott Management and Jana Partners launch activist campaigns in Europe and the U.S.
Further, Bluebell Partners assisted Elliott in its campaign against Telecom Italia SpA and Ansaldo STS SpA. The group also advised Jana Partners as it took a stake in Tiffany & Co. Trapani eventually gained a board seat in 2017.
Francesco Trapani and Bluebell Active Equity Fund
Meanwhile, the Bluebell Active Equity Fund will center on European firms with a market cap ranging between two billion euros to 15 billion euros.
Though the company has a relatively small amount of capital, it plans to work with other activist funds to effect change. Furthermore, an investor presentation suggests that the fund will aim to generate annual returns of 15 and hold about 15 stocks.
“It’s a strategy based on collaboration with shareholders,” Bivona said, according to Bloomberg. “We are able to reach out to a lot of our former clients.”
[Related: Auriga Launches WWS AI For Advanced Banking Insights]