Launches & Closures

Archstone launches ERISA fund with $232m


Joe Pignatelli
The $4.7 billion Archstone Partnerships in New York has launched the Archstone ERISA Fund that has so far raised $232 million.

The new fund, which will mirror the investment strategy of the Archstone Offshore Fund, will invest in 18 managers that are already in the pre-vetted Archstone manager family. The US corporate pension fund market is governed by the Employee Retirement Income Security Act of 1974, which stipulates that no more than 25% of a fund of hedge fund can be made up of ERISA money.

The existing Archstone funds had hit capacity,