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Two former veteran fund managers this week opened Boston-based Theory Capital Partners I, a long/short equity fund aimed at technology stocks. Sources said former Raptor Global fund manager James Pallotta is one of the new fund’s major investors.
A document filed with the U.S. Securities and Exchange Commission, posted Wednesday, indicates the fund has so far raised at least $12.5 million.
Partners Rob Broggi and Carl Fantasia, both former Raptor managers, declined to comment for this story. However, a source with knowledge of the fund said the two plan to invest in large- and mid-cap public companies in the information technology, media, Internet and telecom services sectors.
In June, Pallotta announced he would wind down the $800 million Raptor fund, citing concerns about the industry’s short-term focus. In a letter to clients, Pallotta wrote he planned to return to hedge fund investing after taking “a few months to spend valuable time crafting an optimal investment strategy,” according to a Reuters report.
Broggi and Fantasia have offices at 50 Rowes Wharf in Boston, according to the SEC filing.
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