SAIL to Seek Long/Short, Relative Value Funds

SAIL Advisors Ltd., the $2 billion Hong Kong-based fund of funds that aims to expand in North America, is searching for strategies including long/short credit, relative value and long/short equity hedge funds for allocations next year, according to Wayne Yi, a senior analyst.

SAIL prefers “less established” managers with less than $1 billion in assets, Yi, who is based in New York, said in a telephone interview. The fund of funds firm usually considers funds with about $200 million to $600 million in assets. It aims to build strong performance without investing in large managers with long track records. “Philosophically, we like investing in guys that are smaller and more in the growth phase of the hedge fund life cycle, managers who’ve recently spun out of larger organizations and looking to build their business,” Yi said.

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