WEST PALM BEACH, FL (HEDGECO.NET) – The Chicago based alternative investments asset manager, Harris Alternatives L.L.C. has unveiled new fund of hedge funds. The new product, the Aurora Hedged EquityLLC according to the press release �seeks to achieve long-term capital appreciation through the use of a “multi-manager, single strategy” investment philosophy. The fund will allocate 100% of itsassets among a diverse range of hedged equity investment managers (i.e., equity long/short managers). The fund will seek to deliver stable capital appreciation while incurring moderate volatility andmoderate correlation with broader equity market indices.�
The new Aurora equity fund, according to the release, is structured as a Delaware based limited partnership with Harris Alternatives as its general partnership. The minimum investment requirement according to the release is US$250,000; the fund carries management and incentive fees of 1% and 10% respectively.
Anita Nagler, Chairman and CEO of Harris Alternative Investments said, “We are excited by the proliferation of talent that we’ve seen come into the hedged equity area over the past several years and feel that this fund represents an excellent avenue for a sophisticated investor to gain exposure to these talented managers as part of a diversified strategy. The fund will draw upon our 16 years of experience in allocating capital to the hedged equity strategy and will seek to be diversified across industry, market capitalization, and geographic market sectors.�
Harris Alternatives L.L.C. offers a variety of investment products to meet investors� diversification needs. Most of the funds combine a variety of investment strategies to enhance diversification, while balancing risk and return. Within each strategy, the fund attempts to identify and invest with that strategy’s most talented managers.
The portfolio management activities of the alternative investment vehicles and private label separate accounts are run by Roxanne Martino, Scott Schweighauser, Anita Rival Rosenberg, and Justin Sheperd. The investment managers according to the press release have a combined 60 years experience in the alternative investment management arena. Harris Alternatives Investments oversees about $4 billion as of January 1, 2004.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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