TriAlpha’s Hybrid Hedge Fund Oversubscribed

Apr 17 2007 | 1:29pm ET

The TriAlpha Group’s new hybrid fund seems to be a big hit with investors looking for a piece of the private equity/hedge fund convergence pie. The firm said today that its TriAlpha Oceana Concentrated Opportunities Fund raised €150 million of equity, which is ahead of the expected €110 million, for the new vehicle. The fund, which launched on March 30, will operate on a call-down basis and has already deployed approximately 30% of its capital and is planning a second closing at the end of May.

The fund, which has a seven-year investment life, invests in both public and private global equities and other assets with individual investments accounting for as much as 25% of the fund’s capital, according to the firm. Half of the fund’s portfolio is geared toward private or illiquid investments and it will not be constrained by geography, sector or size and will seek investments in both developed and emerging markets.

“This is a fund that provides investors with an opportunity to invest alongside the founders, capitalizing on their entrepreneurial investment approach, international network and strong blend of business, investment and fund management skills and experience,” stated David Sable, TriAlpha Group’s CEO. “We are encouraged by the positive response we have experienced in the marketplace.”

The hybrid hedge fund charges fees of 1.75/20 with a US$100,000 minimum investment requirement. 

The TriAlpha Group, which is a wholly owned subsidiary of the Stonehage Group, was established in 1998 and offers a range of multi-manager, hedge and boutique equity funds.

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