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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of