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Former Man Group chiefs launch ‘emerging manager’ fund
by Emma Dunkley on Feb 26, 2013 at 09:54
Revere Capital Advisors, a boutique started by several former executives at Man Group, is launching a fund investing in early-stage hedge funds.
The Revere Emerging Managers (REM) Founders fund is based on the firm’s research which identifies hedge fund managers at the start of their business.
After identifying new fund launches, REM’s research team evaluates the relevant managers from which to select, to form a concentrated portfolio of between 10 and 12 high conviction managers.
The fund was initially launched last year in order for REM to allocate its proprietary capital and develop a track record, before rolling it out to third party money.
Camilla Balmer of REM said: ‘The early identification of these funds has allowed our team to build a lower cost portfolio by taking advantage of discounted fees offered to early investors.’
The fund, which is domiciled in the Cayman Islands, has a base currency of US dollars with a 1% management fee and 7.5% performance fee, while redemption is quarterly upon 93 days’ notice.
REM is a specialist emerging hedge fund manager boutique based in London and New York, having been founded in 2008.
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