Launches & Closures

Private Advisors readies first registered investment company FoHF

by

Private Advisors, a $3.5 billion fund of funds based in Richmond, Virginia and an affiliate of New York Life Investments, has announced its intention to launch its first registered investment company funds of hedge funds – called Private Advisors Alternative Strategies Master Fund – under the Investment Company Act of 1940.

The fund, set up as a master fund in a master/feeder structure, expects to invest with managers across the spectrum of strategies including credit, event-driven, distressed, global macro, income, long/short equity and relative value/arbitrage strategies and it will seek managers who have fundamental, research-driven strategies, as well