Hatteras Launches PE Fund With Help From Preqin

Dec 6 2013 | 11:58am ET

Raleigh, North Carolina-based alternative investment boutique Hatteras Funds has teamed with data provider Preqin to launch a liquid alternative private equity fund.

The Hatteras PE Intelligence Fund relies on daily deal intelligence provided by Preqin, and seeks comparable returns to the Nomura QES Modeled Private Equity Returns Index.

PERI is based on belief that a substantial portion of private equity buyout returns can be attained through investments in public market sectors. The new fund does not invest directly in buyout funds or the public equity of buyout firms. PERI allocates to both publicly available stocks and global currencies based off of the sector, market cap, currency and timing of the real-time deal activity. In addition, the Index targets both the returns of capital invested in private equity buyout funds as well as a risk-free rate of return for the proportion of capital that has been committed but is not yet funded.

Said Robert L. Worthington, president of Hatteras Funds, in a statement: “We are very pleased to offer this new fund, which is unique in the marketplace. In the past, private equity has been inaccessible to many investors. This product is the first U.S. product to offer investors the opportunity to benefit from the potential return enhancement qualities of private equity through a daily liquid alternative mutual fund. It demonstrates Hatteras’s commitment to designing and delivering alternative investment solutions to our clients.”

Hatteras Funds manages more than $2 billion in alternative investment strategies for a broad range of institutions, endowments, pensions and high net worth individuals.

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