Saturday, 28 November 2015
Last updated 18 hours 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."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…