New Star Seeks $400M For Real-Estate Hedge Fund

Oct 1 2007 | 12:49pm ET

New Star Asset Management has high hopes for its new real estate hedge fund, saying it hopes to increase its assets eightfold.

The British hedge fund manager launched the New Start Real Estate Hedge Fund today with US$50 million in commitments. But the firm said it sees a US$400 million fund in its mind’s eye.

The new fund, plans for which were announced in July, will focus on European listed property securities and is to be managed by Rock Capital veteran Robin White. In addition to real estate investment trusts, the fund can also invest in private real estate funds and derivatives.

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