Mecox Capital Partners, a new options-focused hedge fund, will begin trading in January with $50m in assets, backed by prominent investor Peter Borish, a founding partner of Tudor Investment Corp, according to a report by Business Insider.

Founded by Richard Passer, Mecox will pursue a short-term options strategy, typically executing three to five trades per day. The Long Island-based firm positions itself in the discretionary trading space, with Passer serving as Chief Investment Officer and Kiran Srinivas, a veteran of DE Shaw, Millennium, and Maverick, as Chief Portfolio Officer.

Passer brings experience across trading, operations, and investor relations, having held senior roles at Satori Fund, Stone House Partners, and 1 Main Capital. Srinivas adds over 20 years of investment expertise from leading multi-strategy and quantitative firms.