• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
H
edge fund shop
RMF Invest-ment Management
is lookingfor four to six managers to add toits newly-launched fund of hedgefund vehicle.The Global Emerging Managersfund launched in November withan unspecified amount of capitaland has already invested in fourmanagers, two distressed funds andtwo relative value funds, accordingto
Hans Hurschler
, head of 
RMFHedge Funds Ventures
. “Now,we’re also looking at long/shortequity trading,” he said.The multi-strategy fund has amezzanine-like deal structure. Itplans to increase its portfolio tobetween eight and 10 investmentsover the first 12 to 18 months.“We’re not really seeders andincubators, but regard ourselvesmuch more today as growth cata-lysts,” said Hurschler. “Our invest-ments, coupled with that of themanagers and day-one investors,should bring a manager close to thecritical size of $100 million.”
Lars Meisinger
, who worksin the $28 billion firm’s businessdevelopment group, added thatbecause the firm is looking for highquality start-ups, it does not provideany marketing or operational ser-vices to the underlying managers.“Rather, we allow them to dis-close our name as a cornerstoneinvestor in their asset gathering,”he said.
News ................................ 3, 8, 13-14
GLG Goes GreenLahde Sitting Pretty In New YearSailfish, New Star, RAB Hit With BadNewsManaged Futures, Emerging MarketsShine In '07
Fund Launches ........................... 4-5
New Warriors On The ThamesThe Count Of Special SituationsGoldman Launches $7B Fund
Searches & Mandates ................... 7
Texas Plan Needs Alts Help
Private Equity................................. 9
Rubenstein Heckled In Philadelphia,Gloomy At Davos
Halls of Justice ............................ 10
Ma Yalincak Gets The Boot
Shareholder Activism.................. 11
Centaurus, Pardus Target French Co.
Regulation .................................... 11
British Group Plans Hedge FundWatchdog
People Moves............................... 15
 
 
Inside this Issue
N
ew York-based fund of emerging hedge fund man-agers
SkyBridge Capital
is diver-sifying its portfolio and launching asecond fund to capture alpha fromoverseas emerging managers.FIN
alternatives
has learnedthat the firm hopes to raise up toUS$700 million for its Skybridge2 fund, which will invest in asmany as 15 underlying managers.The fund already has $400 millionin commitments from Asian andEuropean investors and is makingits debut on March 31, accordingto sources with knowledge of thefirm’s capital raising efforts.“There is a huge institutionaldemand for people who want tohave ownership in the hedge fund,”sources said.Like its predecessor SkyBridgeCapital Partners and SkyBridgeCapital funds, which raised acombined $330 million, the newoffering will invest between $25million to $50 million per manager.Sources say that the new fund mayinvest in an asset-backed securi-ties hedge fund, an Indian-focusedhedge fund and two other managersbased in London and China.“[SkyBridge’s] brand is outthere now and they’re getting a lotof reverse inquiries and incomingpotential ideas. They want to look athigh integrity, high money making
alternatives
HEDGE FUND & PRIVATE EQUITY NEWS
 
t 
FIN
Friday, January 25, 2008 www.finalternatives.com Vol. IV, No. 3
SkyBridge Eyes Overseas ManagersWith Second Hedge Fund
Copyright 2008 by Stone Street Media LLC. All rights reserved. Photocopy permission is available solely through Stone Street Media LLC, 262 Mott Street, Suite 102A, New York, NY 10012. Copy, pho-tocopying or duplicating this publication in any form other than as permitted by agreement with Stone Street Media LLC is prohibited and may constitute copyright infringement subject to liability of up to$100,000 per infringement. For photocopy permission, back issues and bulk distribution needs, please contact us at +1 (212) 966-0047 or e-mail info@finalternatives.com
RMF Ramps Up New Emerging Managers Portfolio
Continued on Page 4 
 
 Your back office
is our front office.
Jack McDonald
415.677.1500
Dave Sandrew
212.676.5566
Partnership andFund AdministrationPortfolio AccountingTrade ExecutionTrade OperationsFacilities andIT SupportCorporate AccountingComplianceConsulting Services
NEW YORK BOSTON BRITISH VIRGINISLANDS SAN FRANCISCO
www.conifersecurities.com
 
Jan. 25, 2008 
FIN
alternatives
 3
Deirdre Brennan
Publisher 
dbrennan@finalternatives.com212.966.0047
Hung Tran
Managing Editor 
htran@finalternatives.com212.966.0116
Jonathan Shazar
Senior Reporter 
 jshazar@finalternatives.com212.966.0051
Kristin Rainone
Director of Sales 
krainone@finalternatives.com212.966.2993Stone Street Media, LLC262 Mott Street, Suite 102ANew York, New York 10012www.finalternatives.com
FIN
alternatives
 is a general circulationweekly. No statement in this issue is to beconstrued as a recommendation to buyor sell securities or to provide investmentadvice. Copyright 2008 by Stone StreetMedia, LLC. Copying prohibited without thepermission of the publisher.
FIN
alternatives
G
LG Partners
, the $23 pub-licly traded billion hedge fundoperator, is subadvising on a long-only green fund marketed to retailinvestors that mirrors its own Envi-ronment Fund.The new Virgin Climate ChangeFund, launched by
Virgin Money
,the financial services arm of Sir
Richard Branson
’s
Virgin Group
,will only invest in companies with“lighter-than-average environ-mental footprints for their sector.”At least 75% of the fund willbe invested in an environmen-tally filtered basket of Europeanshares—only companies with abetter-than-average environmentalfootprint for their sector will beselected. Up to another 15% willbe invested in companies adoptingenvironmental best practices, and theremaining balance will be investedin companies that offer solutions toenvironmental problems.Virgin has teamed up with GLGand environmental research organi-zation Trucost, which will providethe environmental data.GLG’s Environment Fundreturned 7.02% net of fees last yearcompared to the MSCI EuropeIndex’s return of 1.62% for thesame period. Like the new ClimateChange Fund, the companies inGLG’S portfolio are chosen froma performance and then an envi-ronmental standpoint where noindustry is excluded. Companiescurrently held in the GLG Envi-ronment Fund include
BG Group
,
Xstrata
and
Renault
.“Companies which do not adaptto changes in public opinion onenvironmental impact could seetheir returns suffer in the future,”said
Pierre Lagrange
, co-founderof GLG and adviser to the fund.“Governments and regulators arelikely to increase costs for com-panies which do not take intoaccount environmental impactsand encourage those that do withsubsidies and tax breaks.”The Virgin Climate ChangeFund, which began trading thisweek, is open to investors withminimum investments of £50 amonth or a £500 lump sum.There are no initial charges, butthere is a 1.75% annual manage-ment fee and a 20% performancefee.
Roy Niederhoffer Closes OutProfitable Year
 W 
hile
Victor Niederhoffer
 suffered another implosionlast year, his younger brother
Roy
 continued to rack up profits in theface of a challenging environmentfor hedge funds.Last year, Niederhoffer reportedan estimated 29.5% gain for his$221 million offshore Diversifiedprogram and a 19.8% gain for the$614 million offshore NegativeCorrelation program. During vola-tile periods in 2007, Niederhoffersaid his funds “fulfilled their dualmission of significant stand-alonereturns and substantial protectiveimpact for portfolios in which theyare included.”The Negative Fund’s Novembergains of 12.5% was the highest of 174 large funds on the
Barclay’s
Flash Report that month and it alsooutperformed during two other chal-lenging periods of the year–Feb-ruary (up 7.31%) and the first half of August. “In fact… the NegativeCorrelation Fund achieved a –2.04%beta to the S&P 500 for the year, aswell as a -0.93 correlation to theS&P 500 for the year. This makesit a possible substitute for or adjunctto a put buying strategy, and allowsits users to reduce equity downsiderisk substantially,” he wrote in aletter to investors.Going forward, Niederhoffer isupbeat on the high volatility anduncertainty across most sectorsand anticipates further forays to thehigh-frequency trading space.
GLG Partners To Subadvise Climate Change Fund
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...