Thursday, 27 October 2016
Last updated 3 hours ago
May 4 2011 | 11:51am ET
Evolved Alpha, a fund of hedge funds manager with a unique risk-management structure, is reopening its flagship fund to new investors.
The fund, which is up 5% this year, invests in underlying hedge funds via managed accounts, with the added twist that Evolved Alpha, and not the manager, actually owns all underlying positions. The structure eliminates fraud risk and increases valuation certainty, the firm says.
"Recent performance has led to increased demand," co-founder Jesse Redmond told HFMWeek. "We will always be a boutique firm focused on specialized strategies—unique strategies trading unique markets. Based on current agreements, we can deploy over $200 million without altering the portfolio."
Evolved Alpha was founded last year by Redmond and Justin Pawl, formerly co-managers of the Alpha Titans Fund.