StoneWater Launches Multi-Strat Emerging Mkts. Fund Of Funds

Jun 17 2010 | 11:54am ET

New York hedge fund StoneWater Capital has launched its third fund, a multi-strategy multi-manager vehicle.

The emerging markets fund of funds currently has six underlying managers, focused on Asia and Latin America. The fund debuted on May 1 with $12 million in initial assets. HedgeFund.net reports.

StoneWater plans to begin marketing the vehicle in the fourth quarter. It features a “typical” fee structure and employs RBC as custodian and Apex Fund Services as administrator, chief operating officer Bucky Canales said.

The $130 million firm has big plans for the new fund, which it says could take in as much as $100 million over the next year. If it does, StoneWater plans to increase its stable of managers to as many as 15.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...