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Hedge fund FRM unit to invest $60 mln in new fund

Forbes – Global fund of hedge funds firm FRM Capital Advisors (FCA) said on Tuesday it will invest up to $60 million in New York-based asset manager WestSpring’s first fund.

Specialist hedge fund seeder FCA said the investment is part of a strategic tie up with WestSpring, which is scheduled to launch the fund in September. The firm will try to combine fundamental and quantitative approaches to credit analysis.

‘We are confident in WestSpring’s ability to build a high quality alternative investment business and we believe this strategic relationship is a great opportunity for our investors,’ said Clive Peggram, chief executive of FCA.

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