Federal Street Moves Assets To Long/Short, Emerging Markets Funds

Aug 26 2011 | 9:37am ET

Fund of hedge funds Federal Street Partners is splitting its onshore fund's assets into two strategy-specific vehicles.

The Connecticut firm has begun moving $100 million from its Multi-Strategy Fund to its global long/short and Asia-focused emerging markets funds, Federal Street Associates I and Federal Street Associates, HFMWeek reports.

"We wanted a greater emphasis on emerging markets and we want to become more tax efficient," CEO Ed Barksdale said.

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