``Ron Beller, the hedge fund manager whose firm, Peloton Partners, collapsed after a huge bet on subprime securities went catastrophically sour, has launched a new shingle with former Peloton colleague Manal Mehta, Financial News reported. The two have seeded the new hedge fund, Branch Hill Capital, with $40 million of their own capital, and are looking to raise $250 million from outside investors over the next year, the publication said. The fund, which began trading in June, is up 15 percent in its first three months, according to Financial News.''

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