New Managers June 2018

SEEDERS & PLATFORMS: PAAMCO launches seeding platform for emerging hedge funds, partners with Texas pension fund, Asia's leading institutional alternative funds platform expands into China with Shanghai Rep Office

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PAAMCO launches seeding platform for emerging hedge funds, partners with Texas pension fund

Pacific Alternative Asset Management Company, has created the PAAMCO Launchpad, a coinvestment platform for seeding and supporting emerging hedge funds. Employees Retirement System of Texas is the inaugural partner with PAAMCO Launchpad.

ERS and PAAMCO believe the PAAMCO Launchpad platform will prove to be a compelling solution to help burgeoning managers with high-growth potential establish institutional-caliber firms. The ERS/PAAMCO Launchpad partnership builds on the long experience that both ERS and PAAMCO have in hedge fund investing, particularly with earlystage managers. By combining their vast resources, experience and investment capital, ERS and PAAMCO believe they can provide a meaningful opportunity to hedge fund managers that have the foundation to grow into successful and profitable businesses.

This newly created partnership also allows ERS to expand on its $1 billion emerging manager program with the goal of bringing such investments to nearly 10% of its externally managed investment portfolio. PAAMCO Launchpad is planning $3 billion in assets dedicated to supporting emerging managers

Andrew Gitlin serves as CEO of PAAMCO Launchpad. Mr. Gitlin has 30 years of experience building, launching and managing a variety of alternative investment opportunities, and was among the first to introduce a formal manager seeding program in 1992. Panayiotis Lambropoulos, a seasoned Portfolio Manager in the hedge fund industry and Portfolio Manager of ERS, is leading the ERS effort in this joint venture, with responsibility for identifying and reviewing potential investment opportunities. Jeff Willardson, Head of Portfolio Solutions for PAAMCO, will lead the manager due diligence for prospective PAAMCO Launchpad managers and provide access to the deep capabilities of PAAMCO on behalf of Launchpad investors.

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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.