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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.

Source: Loews-Backed Hedge Fund Debuts