Hedge fund SkyTop Capital Management has launched a special situations and opportunistic hedge fund backed by the Tisch family.
Troubled fund of hedge funds shop Pacific Alternative Asset Management plans to invest $75 million in the new SkyTop Fund, which launched last month. The fund has also been seeded by the Tischs with $25 million, HFMWeek reports.
SkyTop is structured as a managed account platform.
SkyTop co-founder and portfolio manager Dan Sobol formerly managed money for the Tischs at Loews Corp. (NYSE:L), the Tisch family’s holding company and former parent of the movie theater chain. The firm’s co-founder and president, Lisa Hess, is the former chief investment officer at Loews.