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Opalesque Exclusive: Vaughan-Smith sets Q1 launch for maiden FoF
SilverStreet Capital, the London fund of hedge funds firm co-founded earlier this year by Gary Vaughan-Smith, will launch its first strategy, a 'best ideas' fund of funds in Q1.
The global multi-strategy fund, tentatively named Hedge Fund Leaders, will allocate to around 20 managers. Many of these will be high-profile, 'closed' hedge funds with which SilverStreet has been able to negotiate capacity. As such, the fund will have limited growth potential and is likely to be closed at EUR300 million, said Vaughan-Smith.
Vaughan-Smith and Alex Da Costa, co-founder, have spent the past few months building the performance of a separately-managed account for an undisclosed European institution. This launched in the second quarter with EUR500 million and has grown to around EUR650 million thanks to performance and additional inflows from the institution, said Vaughan-Smith. The managed account is up about 10% for its first seven months of trading.
Vaughan-Smith was head of ABN AMRO Asset Management's alternatives group until June 2006.
Thor hammers out double leveraged version of statistical offshore arbitrage vehicle
From FINalternatives: New York-based Thor Asset Management is launching a double leveraged version of its $193m flagship statistical offshore arbitrage vehicle, the Thor Optima Fund. The new fund will start trading in early January and will offer weekly liqui...................... To view our full article Click here
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