StoneWater To Launch Emerging Manager FoFs In Q1

Dec 1 2005 | 10:49pm ET

New York-based fund-of-hedge funds manager StoneWater Capital is gearing up to launch a long/long-biased domestic equities fund in the first quarter of 2006.

John Santoleri, manager of the new fund and a general partner at StoneWater, said he will invest with 10 emerging managers, each of whom has less than $200 million in assets under management.

"We look to invest in managers who think like private equity investors," said Santoleri, who joined StoneWater at the beginning of the year after 15 years at Warburg Pincus, where he was responsible for private equity investments.

The emerging manager fund will have a 1% fee with an undisclosed carryover hurdle. The lockup period has yet to be determined.

"The edge that we have is that we, as partners, have 10 to 20 years in the private equity business," said Santoleri, who points out that the partners at StoneWater have $40 million of their own funds invested alongside their client's money.

StoneWater, founded in 2004 by former partners at Warburg Pincus, manages approximately $175 million, including $50 million in Asian investments and $125 million in domestic funds.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...