New Managers October 2012

Perspectives - Recent views and findings of interest to new hedge fund managers

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Israel's emerging hedge fund managers attract U.S. investors

According to Tzur Management, there are a total of at least 60 hedge fund managers based in Israel. These managers are mainly "emerging managers" by international standards, Globes.co.il reported. In other words, most of these Israeli investment managers are at the start-up stage, and are managing relatively small pools of assets. Their situation is arguably analogous to that of Israeli high-tech companies. Israel's emerging hedge fund managers are beginning to attract interest from United States investors, including seed investors, and the management firm recommends registering with the SEC to make it easier for them to raise capital from the U.S.

Family offices band together to invest in emerging managers

There have been many big changes in the way family offices invest in hedge funds in the last few years. During the recent Opalesque Connecticut Roundtable , Angelo Robles, founder and CEO of the Family Office Association, said among other things that single family offices or SFOs, care less about the business success or growth of a hedge fund. "They like to invest into a strategy that is small and nimble, and in fact many managers say they want to stay that way, but financial motivations lead them to collect a lot more assets…" On the other hand, he said, family offices don't invest much in funds of hedge funds any more.

Another development is that two, three or even 10 families are coming together to source an emerging manager.

Robles explained: "They will go to that manager and say something like 'you now have......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.