Eden Rock Capital Management has launched the Eden Rock Finance Fund in a move that strengthens its position as a provider of specialty fund of funds.
Eden Rock was founded by James Matthews, Santo Volpe and Ed Horner in 2002. Eden Rock's flagship Solid Rock Fund has been an active investor in the asset-based lending sector, which has consistently been one of the best performing strategies.
The new Eden Rock Finance Fund is a fund of asset-based lending funds that will target an annual net return of 15% and volatility of less than five. The three year annualized pro-forma return is +21.03% with an annualized volatility of 1.47.
Ed Horner, Managing Director, says the new capacity sensitive strategy will be an attractive proposition for FoHFs that want to take advantage of Eden Rock's three-year expertise in this sector and gain exposure to the strategy.
Eden Rock Finance Fund has capacity of approximately USD 250 million and the number of underlying managers is set to increase to 25-30 over the next six months, as assets under management grow. The new fund already has eight managers that are not in the USD 100 million Solid Rock Fund, with at least ten more scheduled to join shortly.