Steenman Asset Management, a Geneva-based firm, has launched
the Core Absolute Return Fund, its first fund of hedge funds,
with assets of $50 million, largely from Dutch investors.
Raising new money for a new fund without track record in this
environment is challenging, but Michiel Steenman, founder of
Steenman Asset Management, explained: "The successful launch of
the CAR fund underlines the fact that there is...