Convertible Hedge Associates
Encyclopedia
Convertible Hedge Associates was an early alternative investment management company founded by Edward O. Thorp
and a partner, Jay Regan, in November 1969. Based in Long Beach, CHA was said by Thorp to have been the first market-neutral hedge fund
. In 1974 it was renamed as Princeton/Newport Partners
.
Edward O. Thorp
Edward Oakley Thorp is an American mathematics professor, author, hedge fund manager, and blackjack player. He was a pioneer in modern applications of probability theory, including the harnessing of very small correlations for reliable financial gain.He was the author of Beat the Dealer, the first...
and a partner, Jay Regan, in November 1969. Based in Long Beach, CHA was said by Thorp to have been the first market-neutral hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
. In 1974 it was renamed as Princeton/Newport Partners
Princeton Newport Partners
Princeton/Newport Partners was an early alternative investment management company founded by pioneering mathematical financier Edward O. Thorp in late 1974. The company was developed by assuming the instruments of an earlier venture, Convertible Hedge Associates...
.