Philly Shop Plants Environmental Fund Of Hedge Funds

Oct 26 2007 | 11:09am ET

FIS Group, a $2 billion Philadelphia-based consulting and traditional asset management shop, is making its first foray into the hedge fund space via an environmental fund of hedge funds. The firm is currently prepping the Eden Global Fund for launch sometime in the first quarter with some $50 million in seed capital from institutional investors.

Nick Kinney, vice president of sales and marketing for the firm, said that FIS has started one of just two global funds of hedge funds focused exclusively on the environmental area. “Other than convincing somebody to go into cleantech directly, there isn’t another mechanism for it. So we thought it would be a great opportunity to provide a fund of funds operating in this area.”

The Eden Fund will allocate 60% of its portfolio to carbon origination and trading, 30% to water strategies and about 10% to clean technology and sustainable energy. “Right now, the carbon market is dominating the high alpha that’s coming out of the environmental space,” said Kinney.

Private equity investors need not feel left out: The fund sports a 10% to 20% side pocket for private equity investments. The fund will invest in nine to 12 underlying managers and has a capacity of $500 million. Roger Kenyon is the portfolio manager for the new offering.

The Carbon fund charges 1.5% for management and 10% for performance, with a $5 million minimum investment requirement for institutional investors.

FIS was founded by Tina Byles Williams, a former senior consultant at pension investment consulting firm WHP Inc., in February 1996. Before joining WHP in 1994, she served as chief investment officer of the City of Philadelphia Board of Pensions and Retirement.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.