Forsyth Wins Follow-On Investment Mandate From Korean Firm

Jun 25 2007 | 11:00am ET

Forsyth Partners has made a follow-on deal with the Korea Development Bank Asset Management Company in which the bank will invest US$10.35 million in one of Forsyth Partners’ fund of hedge funds—The Forsyth Alternative Income Fund. 

The Forsyth Alternative Income Fund was established in March 2003 and invests in a diversified portfolio of hedge fund strategies and managers with a bias towards fixed income.  Since launch the fund has returned 38.60% total and 3.82% year-to-date.

The deal follows KDB Asset’s initial agreement with Forsyth Partners in March 2007 and other Korean asset managers’ previous deals with Forsyth Partners in 2005 and 2006 for the total of US$25 million. The investments form part of two Korean pension funds and one Korean Life Insurance Company portfolio.

Ki-Won Suh, chief investment officer of alternative investments at the Korea Development Bank Asset Management said, “This further deal with Forsyth Partners highlights our good relationship with them and our belief that the Forsyth Alternative Income Fund can continue to provide us with an important part of our portfolios.”

In related fund news, Forsyth has launched two new share classes for its Alternative Income Fund.  The front end loaded AD and AR share classes were launched on May 31 and are available in USD.  The new share classes are being offered in conjunction with the existing R and D share classes.

The initial offer period for both share classes is from May 31 to June 29.

 


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