Money managers under the microscope
Man Investments has invested another $50 mln into a start-up hedge fund, showing that, for those prepared to take the perceived risks, there may be good opportunities to back talented managers at the moment.
The firm’s RMF Global Emerging Managers seeding fund has backed Hong Kong-based Minerva Macro fund, run by ex-Fortress manager Stanley Ku, having last month put $50 mln with 5:15 Capital Management’s flagship fund.
Some hedge fund seeders believe that tougher fundraising conditions for boutiques, coupled with reduced competition as some banks have cut back their seeding, means those with the cash can get great deals with talented managers starting their own firms now.
However, seeding isn’t what it was in the ‘old days’ of the hedge fund industry (i.e. 10 years ago).