Monday, 25 May 2015
Last updated 2 days ago
Jun 16 2008 | 2:00am ET
The World Opportunity Fund, a Naples, Fla.-based fund of hedge funds, is marketing its 12-year-old fund of hedge funds and its offshore master feeder fund, which debuted in January, to conservative-minded investors.
The majority of the fund’s 40-odd managers employ relative-value and arbitrage strategies. Patrick Renda, vice president, said the firm’s long history and track record give it access to well-known hedge funds such as Maverick Capital, Pequot Capital Management and SAC Capital Advisers, which are otherwise closed to investors.
The fund also invests up to 10% of its portfolio in private equity via funds offered by Lehman Brothers, Credit Suisse, Pequot, DLJ and others.
“The way to invest through p.e. is through funds of funds because it gives them a direct and diversified exposure in a low-risk manner,” said Renda.
Year-to-date, the firm’s $60 million onshore fund is down 6.42% through May.
World Opportunity charges a 1.15% management and a 10% incentive fee, with a $1,000,000 minimum investment requirement.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…