Sunday, 24 July 2016
Last updated 1 day ago
Apr 22 2014 | 12:22pm ET
California-based Palo Alto Investors has raised $133 million for a new offshore hedge fund.
Caymans-based Lagunita Ltd launched on April 1, 2014, according to regulatory filings. The target for the new fund is $750 million and the minimum investment is $100,000.
PAI was founded by William L. Edwards in 1989 as WL Edwards & Co. He was succeeded as president of PAI by Anthony J. Yun in 2008, but remains as chairman and CIO of the firm, which offers diversified micro cap and small cap funds, as well as healthcare, energy and technology sector funds. PAI employs 22 professionals and manages more than $1.5 billion in assets.
PIA focuses on “overlooked, misunderstood and undervalued segments of the equity markets that have significant potential for positive returns.”
FINalternatives contacted PIA for comment on the new fund but was told they were “not interested” in speaking about it.