Fund Targets Both Top and Emerging Managers

Chidem Kurdas

One of the largest independent advisor firms, SCS Capital Management,  is preparing to launch a vehicle that will invest in top-tier hedge funds but will round out the portfolio with  promising early-stage managers.

The advisor is responsible for around $6.5 billion in assets and has experience vetting both traditional and alternative managers for clients.  SCS Capital was among the few top registered investment advisors that increased assets in 2009.

The parent entity is SCS Financial Services, which in addition to investment management provides family offices with services like help for developing a philanthropy, tax and estate planning or hiring professional staff.

SCS has set up a master-feeder structure for the new fund, which is expected to close in June. It will primarily focus on long/short equity managers but can also invest in other strategies.

The manager is Kenneth Minklei, chief investment officer of SCS Financial and responsible for evaluating hedge funds. Earlier in his career he was a hedge fund specialist at Cambridge Associates, where he developed fund-of-hedge-fund portfolios for foundations and endowments.  Before that he was at CIBC Oppenheimer and JP Morgan.

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