AllianceBernstein announced its intention to enter the
registered investment company fund of hedge fund market with
its first offering, the AllianceBernstein Multi-Manager
Alternative Fund, according to its N-2 filing.
The New York-based firm plans to invest in a portfolio of
strategies that includes long/short equity, event-driven,
credit and distressed, and emerging markets.
Details of the custodian, administrator and transfer agent
still have to be announced, although Marc Gamsin, Greg Outcalt
and Drew Demakis will be the main portfolio managers of the new
fund of hedge funds.
At the same time, Morgan Stanley has registered the AIP
Macro Registered Fund, classes A and P. This fund will invest
the majority of its assets in the master fund, the Morgan