Stillwater, Matrix Debut Domestic ABL Fund Of Hedge Funds

Nov 15 2007 | 10:40am ET

U.K.-based Matrix Group and Stillwater Capital in New York recently launched an onshore version of their new Stillwater Matrix Fund, a fund of hedge funds that will invest in about 50 underlying asset-backed lending strategies.

The offshore fund launched in August and has already raised $60 million in partner capital. The domestic fund debuted Nov. 1 and the firms aim to raise a total of $300 million between both funds by early 2008.

Inflows into the new funds of funds have been averaging about $10 million a month, according to Jonathan Kanterman, a Stillwater managing director. "I'd expect we'll get to $300 million pretty quickly," he said.

The funds of funds leverage Stillwater's expertise in asset-backed lending and so far have taken stakes in about three dozen ABL hedge fund managers.

Stillwater manages two other funds of hedge funds, including the Stillwater New Finance Fund, a fund of asset-backed hedge funds, as well as the $425 million Stillwater Asset-backed Fund, a fund of collateralized loans. The funds charge an annual 1% management fee with a 20% incentive fee.

Matrix was founded in 1987 and currently has more than £2 billion of assets under management including hedge funds, funds of hedge funds and private equity funds.

Stillwater, founded in January 1997, now has about $800 million under management. It recently re-opened the Stillwater Asset-backed Fund to new investors, and plans a soft-close at $600 million, Kanterman said.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

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

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

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.