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APG enables hedge fund seeder IMQubator to create new fund

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IMQubator, the hedge fund seeding platform backed by APG, will transform its current Multi Manager Fund into a limited‐life vehicle, while simultaneously developing a second fund, which also will invest in hedge fund start-ups. Both vehicles will be open to other institutional investors next to pension asset manager APG. IMQubator (IMQ) intends to attract an additional EUR100m to its first fund from institutional investors. In a continued endorsement of the funds seeded by IMQ, APG has extended the EUR250m commitment with a term of 3+1+1 years as of December 31, 2011.

 

The transformation of the current Multi Manager Fund (IMQubator MMF) and the set up of a new fund comes at a time when 70% of the EUR250m commitment by APG has been invested, with a full investment expected by year‐end 2011. IMQ typically invests EUR25 million per emerging manager, who will then be guided and monitored on a weekly basis by IMQ Investment Management.

The current Multi Manager Fund IMQubator MMF will be transformed into a limited‐life vehicle, IMQubator 1, which will be closed for new capital on December 31st 2011. One or two institutional investors will be invited to join APG in this fund with a targeted additional amount of EUR100m. The new inflow will be used primarily to increase the capital invested in funds seeded by IMQubator1.

After the closing of IMQubator1, IMQ will develop a second hedge fund seeding and acceleration vehicle, IMQubator2, to which APG will also commit. In preparation for the establishment of IMQubator2, IMQ will expand its team in the area of investments and operations.

IMQ started in 2009 and recently has received two Industry Magazine awards. Hedge Funds Review elected IMQubator MMF as “Best Seeding Platform 2010” and the readers of Hedgeweek choose IMQubator MMF as “Best Seeding Platform” in March 2011. Additionally, one of IMQ’s invested funds Boston & Alexander has been nominated as best fund in convertible arbitrage at the “Financial News award for excellence in institutional hedge fund management 2011”.

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