Kurland, Mark Allen of New Castle Funds, LLC

Mark Allen Kurland of New Castle Funds, LLC

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In 2008, JP Morgan Chase & Company acquired The Bear Stearns Companies Inc. As part of the transition, Robert Reitzes and Mark Kurland continued to manage New Castle Funds LLC, which has since become an independent SEC registered investment advisor.

In April of 2007, Mark Kurland participated in an earnings conference call for The Mosaic Company.

In May of 2007, New Castle Funds LLC launched the World Express Funds I – US Dynamic Equities portfolio. The portfolio was managed by Robert Reitzes and Mark Kurland, who have worked together for over 25 years.

In January of 2003, Bear Stearns internally managed approximately $3.7 billion in a variety of hedge fund strategies. The long-biased and market neutral strategies are managed under the New Castle Partners brand.

In February of 2002, Mark Kurland was a senior managing director at Bear Stearns.

In July of 2002, Scott Merves joined New Castle Partners as managing director and senior analyst. New Castle Partners was listed as Bear Stearns’ equity hedge fund group. New Castle Partners was established in 1995 and at the time was managing $1.1 billion in long/short and market-neutral US equity hedge funds.

In 1999, Mark Kurland was listed as one of the top 25 managers of passive domestic indexed bonds.

In 1997, Mark A. Kurland was the chief investment officer at Bear Stearns Asset Management.

In August of 1995, Bear Stearns & Company announced that Mark Kurland was named chairman and chief executive of Bear’s asset-management business. He had previously been the head of global equity research.

In May of 1985, Mark Kurland was employed at Mabon, Nugent & Company.

“New Castle Partners, LLC (the “Fund”) is an exempt company with limited liability and duration incorporated under the laws of the Cayman Islands. The general partner of the Fund, New Castle Holding, Inc., is responsible for the management and administration of the Fund”

Official website of New Castle Funds: http://www.newcastle-partners.com/

4 thoughts on “Kurland, Mark Allen of New Castle Funds, LLC

  1. “Dangerous liaisons at IBM: Inside the biggest hedge fund insider-trading ring”

    Trading secrets and buying stock

    In the summer of 2008, AMD was in talks to spin off its manufacturing business, Fabco, creating a joint venture that would be 50% owned by a Middle Eastern sovereign wealth fund. IBM was involved in the discussions because it had been asked by AMD to provide a license for the use of its technology as part of the reorganization. Moffat was IBM’s point man for the talks. With access to the two men in charge of the deal, Chiesi was soon getting detailed information that no other analyst had. Amazingly, she persuaded Ruiz to let her sit in on one of the confidential meetings between him and Moffat. As the deal progressed, Moffat kept her updated, telling her in August that it would be completed by September 9. She in turn regularly briefed Kurland about the developments, according to the criminal complaint against her. “I’m working hard on this AMD thing,” Chiesi told Kurland, adding that she would be meeting with Moffat “on f***ing Sunday at my mom’s house.” When Kurland asked whether AMD’s stock price would rise after the spin-off, Chiesi said she’d try to get the “lay of the land” from Moffat, talk to Ruiz, and then “triangulate” with Moffat. Kurland directed her to buy several hundred thousand shares of stock. “Don’t put anything in e-mail,” Kurland told her. “Be careful.” New Castle bought 199,400 shares.

    Kurland pushed her to get better and more specific information about the deal and its timing. On Aug. 22, Moffat told Chiesi, “The Arabs are gonna pay $2.1 billion…for a 50% stake in Fabco.” As Moffat talked, Chiesi allowed Kurland to eavesdrop on the conversation.

    Kurland wasn’t the only person to whom Chiesi was giving information. She was also feeding the information she gleaned from Moffat and Ruiz to her friend Raj Rajaratnam.