Wednesday, 5 August 2015
Last updated 20 min ago
Sep 29 2008 | 2:00am ET
Oakbrook, Ill.-based Blackpool Capital Management has launched a multi-strategy fund of funds to provide investors with “extreme consistency with no market correlation.”
The Blackpool Absolute Return Fund debuted in May and has returned 3.79% through August, according to Michael Resnick, partner. Resnick said the offering is on pace to return will approximately 4.65% through September. The fund is currently invested in seven underlying managers and manages some $ 7.6 million in assets.
The fund currently has exposure to several types of lending hedge funds, some currency trading managers, statistical arbitrage and some volatility arbitrage managers.
“We are always looking for new managers who bring in consistent returns with minimal volatility,” says Resnick.
Resnick added that the new offering is a carve-out of the firm’s Blackpool Partners Fund, which began trading in January 2000 and currently manages $13 million.
May 27 2015 | 2:15pm ET
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