Context Capital Partners is a Bala Cynwyd-based private equity firm that invests in and provides operational and management support to other actively managed investment funds. It manages about $300 million, raised from both individuals and institutions. Founded in 2005, Context had previously invested in three sectors: distressed real estate, small banks, and RV parks. Despite the economic problems that have ocurred since then, the first two sectors have worked out rather well for them, according to Ron Biscardi, Context's managing partner, though the investments in RV parks haven't performed too well because of the effects of the credit crunch on that market.
Now Context is entering a new area; it announced last month it was investing in a hedge fund for the telecommunications, media and technology sectors. The fund, Bala Cynwyd-based Betzwood Partners, LP, was formed in 2009 by David Sung, who had previously run a similarly focused fund at Susquehanna International Group. The size of Context's investment was not disclosed. As a hedge fund, Betzwood is managed to be "market neutral" and to minimize risk by taking both long and short interests. One hypothetical example of what Betzwood might do would be to base an investment decision on a detailed comparative analysis of two stocks like Comcast and Time Warner Cable. It requires strong skills in fundamental financial analysis and a firm grasp in the underlying technologies and market forces that drives these companies.
Sung, who grew up in North Jersey, attended Villanova as an undergrad and also recieved an MBA from NYU's Stern School and is a CFA (Chartered Financial Analyst). Bascardi said Sung had excellent results at Susquehanna, and that Betzwood had also performed well since its founding.