Monday, 24 October 2016
Last updated 14 min ago
Oct 9 2012 | 1:04pm ET
Third-party marketing firm Agecroft Partners plans to add a new hedge fund to the stable it currently represents.
The chosen fund will have at least $75 million in assets under management, risk-adjusted performance that ranks it near the top of its peer group and low correlation to relevant market indices.
Don Steinbrugge, a former founding principal of Andor Capital Management who founded Agecroft in 2007, says the firm is on track to raise $1 billion in 2012. The bulk of the assets Agecroft has raised over the past year have come from pension funds and endowments but Steinbrugge said they've also had success raising assets from family offices and funds of funds in Europe and North America.
“One of the challenges in our business is that if you are successful in helping your hedge fund clients grow their assets to capacity, you constantly need to find new managers each year,” said Steinbrugge in a statement.