Coastal Partners is to launch a new long-short strategy fund, the Coastal Partners Energy Opportunity Fund, on 1 May.

The fund, which will be managed by Wayne Nordberg, will employ a long-short strategy focused on the full spectrum of equities and options of companies involved in the energy and commodity business. Nordberg, who has over forty years of investment experience in money management and energy research, will act as the fund's chief portfolio manager.

"There is a four year track record for the strategy," said Daniel McDermott, managing director of Coastal Partners. "The Fund was expected to launch with USD 50 milion and soft closed at USD 200 million. It will join the Emerging Growth Fund as the next "best-of-breed" alternative investment strategy to be launched on the Coastal Partners platform."