TriAlpha, the asset management arm of the Stonehage Group, announced it has raised EUR150 million of equity for the TriAlpha Oceana Concentrated Opportunities Fund, ahead of expectations of EUR110 million.
Leverage of up to 75% will be utilised providing a potential initial asset base of around EUR 260 million. The TriAlpha Oceana Concentrated Opportunities Fund is an entrepreneurial new fund established in partnership with the Oceana group. The fund, which will operate on a call-down basis, has already deployed approximately 30% of its capital and is planning a second closing at the end of May.
The Fund, in which the founders have invested approximately EUR 85 million, closed at the end of March and will adopt a concentrated approach investing in both public and private global equities and other assets with individual investments accounting for as much as 25% of the fund's capital. A maximum of 50% will be invested in private or illiquid investments and the fund will have a seven-year life, extendable by a further two with the agreement of investors.
David Sable, TriAlpha Group CEO said: 'This is a fund that provides investors with an opportunity to invest alongside the founders, capitalising on their entrepreneurial investment approach, international network and strong blend of business, investment and fund management skills and experience. We are encouraged by the positive response we have experienced in the marketplace.
'We will seek investments with the potential for strong capital growth where we have developed insights and understanding of both the opportunities and the risks. This fund is about concentrating investments in assets we want to own with people we want to back at valuations we consider compelling.'
The fund will not be constrained by geography, sector or size and will seek investments in both developed and emerging markets.