Minerva Alternative Strategies, a new CPO/CTA, has recently been formed to create multi-manager funds for Japanese institutional investors. New York-based Minerva will focus on the global macro/CTA style and strategy. The firm, a wholly-owned subsidiary of Mitsubishi Corp., is sourcing the managers, performing due diligence and constructing the portfolios, while the marketing is being done out of its Tokyo office.
Eric Golberg, portfolio manager for the new firm, said that Mitsubishi currently has one fund in place and has provided a significant amount of proprietary capital to invest in managers on a test basis prior to placing managers in the fund. He said that Minerva was formed to enhance the management of this fund and anticipates creating additional multi-manager funds for Japanese institutional investors.
"There has been a demand for this over the years, and that demand is increasing," said Golberg, who joined the firm last December from JPMorgan.
He explained that he looks for managers with solid performance, and is flexible concerning AUM and length of track record. The majority of managers that Minerva follows are based in the U.S., U.K., and Europe.