Saturday, 26 July 2014
Last updated 10 hours ago
Jul 19 2007 | 2:20pm ET
New York-based Finvest Asset Management has launched the Finvest Yankee Fund, a $250 million multi-strategy hedge fund with exposure to emerging managers. The firm is looking to raise $2 billion for the new offering.
The Yankee fund utilizes a proprietary risk model dubbed Profit Opportunity and Profit Sharing that “aims to reduce risk by allocating to proven technologies, and by ensuring transparency using a managed account structure,” according to fund documents.
“We are not a fund of funds, but rather a multi-strategy fund,” founder Gad Grieve told FINalternatives, in spite of its strategy of employing sub-advisers. “We look to allocate capital to emerging managers through our managed account model, which is held in-house.”
Strategies in the POPS platform includes just about everything save the kitchen sink: convertible arbitrage dedicated short-bias, emerging markets, equity market-neutral, merger arbitrage, distressed and high-yield, credit arbitrage/capital structure, fixed-income arbitrage, long/short equity, macro, managed futures/CTA, multi-strategy and event-driven.
The Yankee fund has already invested in 10 emerging managers, and plans to allocate to another eight to 10 next month. It charges a 1% management fee and a 10% incentive fee and has quarterly redemptions with 30 days notice. Its minimum investment is $1 million.
The firm also currently manages the $120 million Finvest Primer Fund, which focuses on writing out-of-the-money put options and profit from the time decay of premium. Overall, it manages some $400 million in several single-strategy hedge funds.
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…