Ascentia Seeks To Build Up Alternative Mutual Fund Of Funds’ Roster

May 25 2010 | 10:00am ET

Ascentia Capital Partners has tapped hedge fund Armored Wolf as the fifth subadviser to its mutual fund of hedge funds, and is now looking for two more.

The hedge fund and mutual fund firm picked California-based Armored Wolf to handle the global macro portfolio for its $35 million Alternative Strategies Mutual Fund. Now, the firm is looking to hand out mandates for merger arbitrage and long/short, Mutual Fund Wire reports.

Stephen McCarty, chief compliance officer at Ascentia, said the firm’s search for the merger arb. manager was “pretty far along”  while the search for a long/short manager was “in the third or fourth inning.” But he did say that the firm was still accepting candidates for both mandates.

There is one big catch: Ascentia won’t hire a manager that charges performance fees.


In Depth

Q&A: SkyBridge’s Anthony Scaramucci Readies For Wall Street Week Debut

Apr 16 2015 | 12:56pm ET

Anthony Scaramucci, founder and managing director of asset management firm SkyBridge...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note