WEST PALM BEACH, FL (HEDGECO.NET) – Crescent City Capital Advisors [CCCA] has announced the launching of its new hedge fund product, the Crescent City Balanced Fund, LP. The new fund of hedge fundsproduct is a Ã¯Â¿Â½multi-strategy fund of fundsÃ¯Â¿Â½ according to a new press release.
The asset manager recently launched the Crescent City Managed Index Fund II LP [HedgeCo.Net previous story] that product according to an earlier press release is a Ã¯Â¿Â½quantitatively managed long/short hedge fundÃ¯Â¿Â½, utilizing a proprietary qualitative technique for trading.
The new Crescent City Balanced Fund L.P. will also use a proprietary quantitative long/short strategy, however it will be Ã¯Â¿Â½complemented by external managers focused on arbitrage and market neutral investingÃ¯Â¿Â½, according to the press statements. Both funds will use no leverage in trading and will strive to provide its investors with absolute returns non-correlated with equity returns.
In his statement about the new fund of funds product, Seth Weinstein, CCCA portfolio manager said, Ã¯Â¿Â½the external managers chosen have exceptional track records through many different market cycles. Over 80% of our arbitrage and market neutral managers are closed to new investors, however, our relationships allow us to continue to invest new capital with these firmsÃ¯Â¿Â½ Weinstein added.
The new Crescent hedge fund of funds will charge 1% for management fee and 10% for performance fee, and minimum investment requirement is US $250,000, according to the press release. Crescent City Capital Advisors LLC is an asset management company, devoted to hedge funds and fund of funds management, providing services to institutional and high net worth individuals.
Further contact should be directed to:
Seth Weinstein, Crescent City Capital Advisors, LLC
Tel. (561) 988-6320 Fax. (561) 988-5537
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