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Alternative Market Briefing

Hedge fund incubator NewAlpha chosen to manage French government backed seeding fund

Wednesday, July 20, 2011

Jean Francois Bay
From Kirsten Bischoff, Opalesque New York:

Finance Innovation, a Paris-based business and research cluster dedicated to financial services and a widescope initiative of the Paris financial marketplace (banks, insurance companies, asset management firms, etc) has announced that it is launching the first seed money fund to focus on young asset management companies in France. The fund, which will be called EMERGENCE, is expected to have a first investment tranche of 150m to 250m Euros, and will take stakes into the most promising management teams in the country.

With nearly 400 asset management companies created between 2001 and 2010 (according to Finance Innovation), the fund hopes to accelerate the growth of these firms, and of asset management firms hoping to launch within France in the future. The seed fund aims to assist these managers in growing to asset sizes that make them investment targets for large allocators such as institutional investors, which are often restricted from investing in smaller funds due to capacity constraints.

EMERGENCE will be structured as a SICAV fund, and the first investment tranche focusing on absolute return managers has been assigned to NewAlpha Management. ......................

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