Tech hedge fund targets institutional money

By Dane Hamilton

NEW YORK (Reuters) - The former chief technology strategist for JPMorgan Chase (JPM.N: Quote, Profile, Research) and a partner are reaching out for institutional investors after generating solid returns over two years at their family-and-friends-financed hedge fund.

Christie Street Capital, a firm named for the Edison, New Jersey, street where Thomas Edison made globe-changing inventions, is looking to raise several hundred million dollars or more for the technology-focused fund, people familiar with the firm said this week.

Christie Street was founded by Greg Geiling, former top-ranked Institutional Investor telecoms equipment analyst at JPMorgan who was promoted to chief tech strategist in 2001. His partner, Andrew Berliner, is a former managing director at hedge funds Ark Asset Management and NorthStar Capital Funds.

The firm, which currently has less than $50 million (25 million pounds), has generated returns of nearly 21 percent since inception in August 2006, according to an investor note obtained by Reuters.

The firm is looking for institutional money at a time when tech investing is somewhat out of favour compared with last year. The Morgan Stanley Technology Index .MSH, which includes many major tech stocks, has fallen over 20 percent from a peak last fall.

Still, one analyst said the firm could attract investor interest for fund of funds and others looking to allocate capital to the technology sector.

"Tech is not really in favour right now, but if Christie Street has a verifiable track record and can convince prospective investors that it will deliver alpha (above market returns), it should be able to attract interest," said Dan Farkas, hedge fund analyst at Morningstar Inc (MORN.O: Quote, Profile, Research). "Investors like alpha in just about any form."

Christie Street executives declined to comment.