Sunday, 26 April 2015
Last updated 2 days 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."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…