RCG Preps Global Fund Of Hedge Funds

May 21 2007 | 8:04am ET

Alternative asset management shop RCG Capital Advisors is gearing up to launch a global equity long/short fund of funds in the third quarter. The new hedge fund offering will start out investing with about 20 managers, each of whom typically has a track record of two or more years, so emerging managers need not apply.

The firm is aiming to raise $100 million for the new vehicle, RCG GELS, by year’s end.

“Our [existing] multi-strat fund of funds has had a 40% allocation to equity long/short since it was formed in 2003, so this is essentially lifting that track record of those managers and creating a stand-alone fund,” said Ken Phillips, founder of the firm. “We will also include some new managers in the mix and we’re going to target a slightly higher volatility for the product.”

RCG GELS’ fee structure has yet to be determined, but “we’re thinking of being fairly aggressive in our pricing in order to attract institutional-type money,” said Phillips.

Phillips, the founder and former CEO of institutional consulting firm Portfolio Management Consultant, founded RCG in 2003. The firm currently manages two multi-strategy funds of hedge funds and has some $140 million in assets under management.


In Depth

Q&A: Jeff Eaton Talks Capital Raising, CalPERS And The Secondaries Market

Oct 14 2014 | 10:16am ET

Global placement agent Eaton Partners has raised close to $60 billion for some of...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.