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Hardt Group Investments AG has launched an innovative multi-strategy fund of hedge funds - the Incubator Participation Fund.
Over the past 18 months, the company has focused on the identification and seeding of talented early-stage hedge fund managers. Until now Hardt Group clients were only able to have access to them through the company's Multi Strategy Fund of Hedge Funds.
'By setting up a separate incubator participation fund around our core group of managers, we are now positioned to offer investors a differentiated institutional product with the added possibility of significant returns,' says Dr Alexander Schweickhardt, CEO and principal of Hardt Group.
The Incubator Fund will provide investors with both sector and regional diversification as well as an enhanced return opportunity. By investing at a very early stage in hedge funds set up by experienced fund managers, the investor, through their investment in the Incubator Participation Fund can gain in four ways: a revenue share of the performance and management fees based on asset growth; a discount on direct investment fees; participation in the potential of excess returns of early stage managers; and future capacity at reduced fees.
'The fund's portfolio encompasses a variety of investment strategies and has broad geographic diversification,' says Jeff Landle, CIO and Principal of Hardt Group. 'We believe our ability to offer this kind of hedge fund product is unmatched, given the depth and breadth of our investment approach, backed by our highly experienced investment team.'
The Incubator Participation Fund return objective will be 10 per cent per annum over 3-month LIBOR over a three to five year period with 6-10 per cent annualised volatility. The minimum investment is set at USD 20 million with a minimum three-year lock-up period. Advisory fees will be one per cent per annum and a 10 per cent performance fee with a high watermark clause.
Hardt intends to raise USD 200-500 million, matched by a commitment from Investment Vehicles advised by Hardt Group of 50 per cent of the assets up to USD 200 million.
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