Stockholm (HedgeNordic) – A large U.S.-based financial group on the East Coast is seeking to allocate between $30 million and $50 million to a global or U.S. long/short equity manager, as outlined in a request for proposal on Global Fund Search. This investment will be part of a global multi-strategy 40-act mutual fund, with potential for increased allocation over time based on performance.

Strategy guidelines

• Universe: Global or U.S. long/short equity
• Return target: Strategy’s benchmark + 2-3% net alpha
• Style: Ways to reduce drawdowns are desired
• Net exposure: 0-60%
• Instruments allowed: Liquid assets only, no private/ illiquid assets (Hard requirement)
• Fee structure: a flat fee of 90bps or lower (Hard requirement)

Other requirements:

• Track record: Minimum 5-year track record (Soft requirement)
• Minimum Strategy AUM: $500mm (Soft requirement)
• 40-act experience: The fund manager should have recent experience sub-advising 40-act mutual funds.
• Reporting: Monthly/ quarterly review of performance and attribution across strategies

Investment vehicle

• Vehicle: separately managed account in USD
• Liquidity: preferably monthly, quarterly accepted

Performance data

Gross of fees, net of trading costs

Process 

The replies to this RFP will be used as the first screen (1st round). Managers qualifying for the 2nd round will be asked to answer additional questions and provide further information. A final shortlist will follow from the 2nd round.

Deadline
January 24, 2025 (Cut-off: Midnight CET, Expiry date inclusive)

To review the search and apply, asset managers need to register here on globalfundsearch.com and locate the RFP with ID: 8HCDQ.