New York-based CSFB's Hedge Fund Investments group has launched five SEC-registered funds of hedge funds.
The five fund strategies are Multi-Strategy, Long/Short Equity, Relative Value, Tactical Trading and Event Driven. There is a tax-exempt and taxable feeder fund available for investment into each strategy.
The three-tier structure of the tax-exempt funds provides tax-exempt institutions with the opportunity to invest in a US entity without exposure to UBTI.
The CSFB Hedge Fund Investments group manages approximately USD 9 billion in assets with a team of 75 dedicated individuals. HFI is managed by Jim Vos, a 20-year veteran of CSFB, who started the group in 1998.
"The organization of our US menu reflects HFI's sector-based approach to manager research," said Vos. "Research is led by specialized sector teams with market experience focusing on increasingly complex and dynamic trading and arbitrage strategies. Investors can access the top-down strategy allocation expertise of CSFB through the Multi-Strategy feeder funds or focus their investments in sector funds that complement their current asset allocation."
"The hedge fund industry is becoming more transparent, and our decision to register these funds reflects this trend," said Bob Kulperger, HFI product specialist for the Americas. "Institutions and ultra-high net worth entities have expressed an appreciation for the added comfort provided by the transparency of regulatory reporting and the oversight of an independent board of managers."