Saturday, 28 November 2015
Last updated 13 hours ago
Aug 12 2010 | 12:03pm ET
Hedge fund industry players FletcherBennett Group and Invus Financial Advisors are joining forces to launch a fund of hedge funds.
The joint venture, dubbed FB Lake, will be managed by Invus’ Leslie Lake. The new fund, which is set to debut in October, is an outgrowth of Lake’s family office strategy, which she has been running for 15 years.
FB Lake will focus on emerging long/short equity managers with either a geographical focus or a sector-based focus, HFMWeek reports. It will have 20 underlying managers, on average, and with an initial capacity of $500 million. Lake said that the capacity could be increased to $1 billion.
“In the post-2008 environment, we are seeing a tremendous number of new talented managers and at the same time, the industry is incredibly capital-constrained and we are uniquely qualified to provide that capital to these managers,” Lake told HFMWeek.
FletcherBennett is a hedge fund consultancy and Invus an alternative investments manager.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…