Wednesday, 25 November 2015
Last updated 3 hours ago
Nov 12 2010 | 2:16am ET
Austria’s Erste Group Bank is jumping on the UCITS III bandwagon with a new fund of hedge funds set for launch next year.
Erste’s ESPA Alternative Diversified Fund will debut in January, HFMWeek reports. It will be the Vienna-based firm’s first UCITS-compliant offering; the firm currently manages some US$650 million in multi-strategy funds of funds.
The new fund will be seeded with €50 million by the firm, although Erste expects it to be managing outside money—primarily from local Austrian investors—when it launches. It will be managed by Mark Cachia and the rest of Erste’s alternative investments group, and will include between 15 and 20 underlying managers.
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…