Hedge fund shop RMF Investment Management is looking for four to six managers to add to its newly-launched fund of hedge fund vehicle.
The Global Emerging Managers fund launched in November with an unspecified amount of capital and has already invested in four managers, two distressed funds and two relative value funds, according to Hans Hurschler, head of RMF Hedge Funds Ventures. “Now, we’re also looking at long/short equity trading,” he said.
The multi-strategy fund has a mezzanine-like deal structure. It plans to increase its portfolio to between eight and 10 investments over the first 12 to 18 months.
“We’re not really seeders and incubators, but regard ourselves much more today as growth catalysts,” said Hurschler. “Our investments, coupled with that of the managers and day-one investors, should bring a manager close to the critical size of $100 million.”
Lars Meisinger, who works in the $28 billion firm’s business development group, added that because the firm is looking for high quality start-ups, it does not provide any marketing or operational services to the underlying managers.
“Rather, we allow them to disclose our name as a cornerstone investor in their asset gathering,” he said.