Stillwater Capital Makes Ripples With New Offshore ABS Fund

Jan 11 2007 | 2:15pm ET

New York-based Stillwater Capital Partners this month launched The Stillwater ABS Fund, a Cayman Islands-domiciled fund of funds, with $10 million in initial equity. The fund will invest in approximately 20 single-strategy managers all within the asset-backed securities space.

"We have some European clients who love the asset-backed space and are more comfortable with asset-backed securities because of the prime broker and independent pricing methodology," said Jonathan Kanterman, managing director.

"So, in asset-backed securities they can get the best of both worlds. The returns are almost as consistent as asset-backed lending, with lower volatility than traditional hedge fund strategies and compelling performance. The managers have third party pricing and there is a custodian and prime broker involved.  We're very excited about the new fund and have had great interest from European investors."

The new fund of funds, which complements the firm's existing asset-backed lending hedge fund, The Stillwater Asset Backed Fund, and its asset backed lending fund of funds, The Stillwater New Finance Fund, charges management fees of 1.5% and performance fees of 10% with a $500,000 minimum investment requirement.


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