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NEW YORK, Jan. 11, 2021 /PRNewswire/ — Red Cedar LLC, a newly formed quantitative investment management firm, today announced a seed investment and strategic commitment from New York-based investment manager New Holland Capital.
New Holland will provide significant trading capital and foundational support to Red Cedar so that it may commence trading operations in May. Terms were not disclosed.
Former Jefferies portfolio managers Alexander Chernyy and Christopher Dean formed Red Cedar in September 2020 to offer a new and innovative approach to solving the problems facing systematic managers. The firm focuses on acquiring new, alternative datasets to capture alpha and deliver a differentiated return stream with low correlation to its larger peers. Red Cedar utilizes a combination of proprietary statistics and raw data to neutralize the impact of common factors, build a diverse set of proprietary risk factors, and achieve idiosyncratic returns.
Red Cedar CEO Alexander Chernyy said: “We are thrilled to have the backing of New Holland Capital as it enables us to begin executing our investing strategy and provides an excellent foundation from which we can scale. There is tremendous opportunity and capacity for us to grow, and New Holland’s seal of approval helps us take the first step.”
“Red Cedar’s uniquely talented management team and differentiated focus on alternative data create an exciting opportunity set for us,” said Scott Radke, CEO of New Holland Capital. “We have tremendous faith in Alexander and Christopher and are pleased to partner with them as they grow their offering.”
About Red Cedar:
Founded in September 2020, Red Cedar is a quantitative investment manager that emphasizes alternative data, proprietary portfolio construction and alternative risk management techniques to generate differentiated risk-adjusted idiosyncratic returns. The firm is led by former Jefferies portfolio managers Alexander Chernyy and Christopher Dean.
About New Holland Capital:
New Holland Capital is an alternative investment manager that manages over $20B in absolute return strategies for institutional clients. NHC seeks to generate alpha across a diverse profile of managers, with a preference for smaller or earlier-stage managers and catalyst-driven opportunities with more established managers.
SOURCE Red Cedar LLC