Johannesburg – Peregrine Holdings, the country’s biggest hedge fund manager, and Investment Solutions Holdings plan to jointly create a fund of hedge funds business. The venture, called Caveo Fund Solutions, would manage R250 million, Jonathan Hertz, the managing director of Caveo, said yesterday.
It would tap into the distribution network of Investment Solutions to win more funds from institutional investors while using Peregrine Holdings’ seven years of experience as a hedge fund manager, he added.
There are about 80 hedge funds in South Africa managing assets of more than R10 billion, compared with about R7 billion at the beginning of 2004.
Read Complete Article
