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From Kirsten Bischoff, Opalesque New York:
Building on the expertise of a family office that has invested into hedge funds since 1985, Partners Advisers, which formed in 1998 now manages $900m on behalf of institutions and other investors and allocates strictly into hedge funds. As a firm with a long history of interacting with hedge fund investors (ranging from high net worth to large institutions), Luc Estenne, Chief Executive Office of the Geneva-based firm, says the biggest concern remains liquidity.
"Private investors have realized that the system can break and that functional markets can soon become dysfunctional. Accordingly, you can face situations where you just want to get your money back," he told Matthias Knab during a recent Opalesque TV interview.
The gating and side pocketing that occurred is likely to haunt the industry for some time. In fact, managers who did not use these tactics to hold onto assets are often quite outspoken against those who did, as it continues to affect the flow of assets back into hedge funds.
"Many investors want to have a smaller allocation to hedge funds. They want to make sure that 'what they see is what they get'. Meaning, they want to be sure there's no liquidity mismatch between what is offered in terms of the liquidity of their fund (or fu...................... To view our full article Click here
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