Launches & Closures Funds of Hedge Funds Hedge Funds Performance

Larch Lane and PineBridge halt fundraising for joint seeding vehicle

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Select Plus fund drops its push to amass $1 billion; still manages $400 million spilt among five hedge funds.

   
   Mark Jurish
   
   Robert Discolo
Select Plus Fund, a joint venture of $1.4 billion hedge fund investor Larch Lane Advisors and $67 billion asset manager PineBridge Investments to seed early stage managers, has halted a second round of fundraising.

The private equity fund launched in June 2008 and soon closed with $400 million from three sources: Larch Lane, AIG’s asset management unit (which became PineBridge), and an undisclosed group of institutional investors. After the financial crisis subsided, the group began