Saturday, 27 December 2014
Last updated 2 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.