Fund launches & closures Fund of Hedge Funds Hedge Funds

AC shutters emerging-manager FoF

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The fund invested in small emerging managers and was not limited to the commodities sector.

AC Investment Management, a New York fund of funds firm with a focus on commodity managers, has called time on a fund of emerging managers and is in the process of returning money to investors. The AGR Scout Fund managed $45-50 million and ceased trading in December.

The fund invested in small emerging managers and was not limited to the commodities sector. The firm decided that the fund of funds was therefore a distraction from its field of expertise, according to an individual familiar with the decision. He noted that AC’s other two funds of funds—the commodity-only AGR