Tristan Thomas looks at market environments as he plans to provide capital to hedge funds that operate based on specific performance drivers. The $5 billion hedge fund allocator at 50 South Capital Advisors, the alternative investment subsidiary of Chicago-based Northern Trust, has an eye on mean reversion opportunities in distressed debt as well as quantitative relative value plays that might come in handy during market volatility depending on their long/short ratio management and risk management hedges. Before moving south to work in the heart of the Chicago financial district, 50 South Capital’s Thomas worked across town as strategy head at Mesirow Advanced...