Friday, 25 July 2014
Last updated 44 min ago
Oct 27 2011 | 6:41am ET
Sweden's SEB has raised US$300 million for its second hedge fund seeding fund.
The firm closed the Manager Catalyst Fund II at the beginning of the month. The new fund, like its year-and-a-half-old predecessor, will invest in six emerging managers, HFMWeek reports.
"It's simple: We're looking for individuals, not strategies," SEB's seeding chief, Eric Hoh, said. While SEB plans to look across locations and strategies, it will seek to build a portfolio of managers that complement one another, with its first seed coming within three months.
SEB's first seed fund took just eight months to invest its US$250 million in six emerging managers.
MCF II was backed by several Nordic pension funds and other institutions, Hoh said.
"There's an appetite for seeding vehicles at the moment," he told HFMWeek. "It suits long-term investors very well."
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…