New York (HedgeCo.Net) – Nick Taylor, British born portfolio manager of the 3 year old Senrigan Capital, has entered into a $50 million to co-investment deal with it’s long-time investor Blackstone Group.
With over $1 Billion under management, Senrigan is one of the largest Asia-focused hedge funds.
Senrigan started trading in 2009 with $150 million which included a $150 million from Blackstone.
Traditionally co-investment deals enable the investor to invest alongside the manager’s investments at a lower fee than the 2% management fee and 20% incentive fee which is traditionally required to invest in a Hedge fund.
Despite strong backing, Nick Taylor lost 8.6% last year. According to sources the fund is down a further 7.2 percent this year.
The news of this re-commitment to Blackstone’s investment in its hedge fund portfolio comes a day after Blackstone Real estate private equity funds agreed to purchase a US$1.76 billion portfolio of distressed property loans BOS International an offshore subsidiary of Lloyd’s Banking Group.
Alex Akesson
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