A Mississippi fund of hedge funds is looking for some seed capital.
Big River Capital Corp. is offering would-be backers a piece of itself in exchange for seed money for its nearly four-year-old Risk Managers Fund, HFMWeek reports. "I am looking for a visionary strategic partner with the know-how to create a business around this battle-tested and proven concept in order to take it from infancy to critical mass," managing partner Bill Robertson said.
Robertson said Big River is willing to give up a piece of the management company or offer revenue-sharing—or both—to the right strategic partner. The firm hopes to boost its assets to the fund's $1 billion capacity.
The Risk Managers Fund focuses on long/short strategies, with a concentrated portfolio of what it hopes to be best-of-breed managers. The fund has a $250,000 minimum investment requirement and charges 0.5% for management and 15% for performance, with quarterly liquidity.