Busara Readies Fund Of Funds To Bolster Intern Program

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...