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Goldman, AQR Alumni Start Niche Hedge Fund With Backing From Cliff Asness

  • ClearAlpha’s fund will have 13 teams and 20 strategies
  • The fund expects to collect $1 billion within a year
Elisha Wiesel and Brian Hurst have launched a multistrategy hedge fund.
Elisha Wiesel and Brian Hurst have launched a multistrategy hedge fund.Photographer: Sean Terretta

A new multistrategy hedge fund run by Wall Street veterans Brian Hurst and Elisha Wiesel began trading Thursday, focusing on offbeat strategies such as temperature arbitrage.

Hurst, a 21-year veteran of AQR Capital Management, and Wiesel, who spent 25 years at Goldman Sachs Group Inc., are starting Niche Plus as ClearAlpha Technologies’ first fund. With commitments of several hundred million dollars, it expects to have $1 billion within a year to deploy across 13 teams running 20 strategies.