The Multi-Strategy Fund of Funds (FoHF) PCAM Select, which was launched in August 2018 with approximately USD60 million, has recently surpassed USD100 million assets under management (AUM).
At the end of February 2019, PCAM Select reported more than USD140 million in AUM. The fund continues to accept further investors. It is the successor to the highly successful PCAM Blue Chip Ltd, which was launched in 2007 and stopped accepting new funds at the end of 2017 after reaching an investment volume (AUM) of around USD850 million.
“PCAM Select is attracting a great deal of interest from institutional investors,” says Dr Werner Goricki, CIO of Prime Capital and board member. “The success of PCAM Select is also attributable to our newly formed Absolute Return team led by Tilo Wendorff and Vivek Mani.”
“The inflow of USD75 million into PCAM Select in the first quarter 2019 reflects the continued strong demand for successful multi-strategy products,” adds Tilo Wendorff, Managing Director Absolute Return. “With a volume of USD140 million, the fund now has a critical mass that will put it on the radar of other investors.”
The underlying portfolio of PCAM Select currently consists of 16 target funds that invest across the entire multi-strategy spectrum. Up to 25 per cent of the capital is devoted to medium-sized flexible managers, while most of the capital is invested in established blue chip managers.
Earlier this year, Prime Capital added two experienced alternative investment specialists, Tilo Wendorff and Vivek Mani, to its Absolute Return Team and reorganised the business unit. Both newcomers have approximately 20 years of experience in the hedge fund and alternative asset industry each. Wendorff most recently worked for the Max Planck Foundation and now heads Hedge Fund Analysis and Fund of Hedge Fund Management at Prime Capital. Mani, who is responsible for Liquid Alternatives at Prime Capital, previously held senior investment positions at the World Bank, UBS Global Asset Management and the Abu Dhabi Investment Council (ADIC).
