Sailfish Capital’s former co-managing partner Sal Naro recently announced his launch of Coherence Capital Partners LLC. Sailfish manages $2 billion in hedge fund assets.
Naro’s recent business endeavors include his role as a shareholder and Vice Chairman of Jefferson National Financial Corp., as well as Chief Executive Officer of Jefferson National Asset Management.
Coherence Capital’s initial funding is a result of Jefferson National’s core insurance management buyout. Naro will now head Coherence Capital as Chief Executive Officer. Former Sailfish Chief Compliance Officer David E. McClean, Ph.D., will also join the Coherence team, as will Vincent Mistreta, Greg MacKay, and Robert Del Grande.
Upon announcing the new fund, Naro said: “Coherence will look to capitalize on inefficiencies and thematic trends in the capital markets. Quality research and experience are cornerstones of our business model.”
He explained that Coherence Capital’s “primary thesis is to invest in companies that show strong performance in their balance sheets with earnings that meet and beat expectations while taking short positions in credits that miss earnings expectations and suffer continued weakness in their primary business metrics.”