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Alternative Market Briefing

Connecticut fund of hedge funds, Simple Alternatives launches manager search

Monday, January 21, 2013

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Jim Dilworth
Bailey McCann, Opalesque New York

Simple Alternatives, LLC is an institutional alternative investment manager based in Ridgefield, CT. Simple Alternatives is a boutique firm with a concentrated portfolio of strictly long/short equity, favoring smaller managers (read under $500m AUM). "We focus on bottom up, fundamental stock pickers – the Jones model of plain Jane hedge fund managers. We don’t look at any systemic strategies, or anything too exotic," explains Jim Dilworth, CEO and Founder of Simple Alternatives, in an interview with Opalesque.

The firm’s flagship product, the S1 Fund (SONEX) is a multi-manager, hedged equity strategy, in a mutual fund structure. "There’s a secular trend toward using mutual fund structures over limited partnerships," he says. "The fact that Arden, Grosvenor, GSAM and a variety of established FoHF firms are launching funds like this validate the strong demand from financial advisors and a new source of capital for hedge funds."

To that end, the Dilworth is looking to expand S1’s current portfolio of 5 managers, adding a sixth. The firm announced its search for a new manager today. According to Dilworth, Simple Alternatives is looking to allocate between $10-15m to a long/short equity manager with an edge. He explains that they want someone who relies on fundamentals, but also differentiates him or herself with a specific focus such as a given sector or niche.

"We also want managers who c......................

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