A former Bear Stearns hedge fund manager has opened her own firm with nearly $1 billion in assets, according to published reports.
Melissa Ko, who generated annual returns of more than 25% while running the Emerging Markets Macro Fund at New York-based The Bear Stearns Cos. Inc. from 2005 to 2007, has formed hedge fund firm Covepoint Capital in New York.
She was part of the Bear Stearns Asset Management division that held about $27 billion when the investment bank was acquired by New York-based JPMorgan Chase & Co. on May 30.
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