UK firm TriAlpha, the asset management arm of wealth manager Stonehage, has formed a partnership with investment company Oceana to launch a hybrid private equity-hedge fund.
So far USD82 million has already been committed to the fund, and they expect a first closing to occur in April with USD110 million. They will also be borrowing another USD90 million.
It has been planned that the fund will invest primarily in public and private equities, and that private investments will account for over 25 percent of the capital of fund’s capital. It is expected to last for seven years and half of the capital may go to private or illiquid investments.