Saturday, 23 August 2014
Last updated 19 hours ago
May 25 2011 | 11:12am ET
Busara Advisors is planning a fund that will give investors an opportunity to give back to the community, by training minorities for a future in the hedge fund industry.
New York-based Busara has teamed up with Sponsors for Educational Opportunity to create a fund of hedge funds that will invest in emerging managers that pledge to give internships to undergraduates through SEO's summer career program. The new fund, christened True Opportunity, is targeted at foundations, endowments and pension funds and is expected to debut in the summer.
Busara CEO Joseph Schlater told Pensions & Investments he hasn't lined up any investors yet, although interest in the product is high.
Busara, minority-owned itself, was launched in 2008 and builds customized portfolios of women- and minority-owned hedge funds for clients. The new fund will be even more specialized, allocating only to managers with less than $500 million in assets and a willingness to take on an intern or two.
"The focus of our program is promoting diversity within the alternative investment management industry," SEO's Julian Johnson told P&I.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note