Evanston Capital Management has launched the Evanston Alternative Opportunities Fund, a closed-end, non-exchange listed, management investment company registered under Investment Company Act of 1940.
The fund commenced operations on 1 July. The fund is available to US accredited investors, including ERISA accounts, has an initial minimum investment of USD50,000 and offers Form 1099 tax reporting.
Evanston Capital Management has historically offered private funds-of-hedge funds available solely to qualified purchasers. The fund is intended to complement these private vehicles and has a similar strategy to Evanston Capital Management’s flagship fund-of-hedge funds that was launched in 2002.
The fund seeks attractive long-term risk adjusted returns and seeks to achieve its objective by investing substantially all its assets in underlying hedge funds, many of which seek to achieve their investment objectives with minimal correlation with traditional equity or fixed income indices. As of 1 July 2014, the fund has exposure to the following strategies: long/short equity, relative value, event driven, and global asset allocation.
“We’ve received many requests over the years for funds accessible to a wider range of investors,” says Adam Blitz, principal, CEO and CIO of Evanston Capital Management. “We are very pleased to launch the Evanston Alternative Opportunities Fund and to offer Evanston Capital Management’s first registered version of our fund-of-hedge fund strategies to accredited investors. As with our private offerings, we will apply our extensive experience in hedge fund selection, portfolio construction, operations and risk management as we strive to realise attractive long-term risk-adjusted returns for the fund’s investors.”
