First Avenue Partners, a placement agency and emerging manager investment boutique, is set to launch its second seeding and emerging manager fund. The FAP Opportunities Fund plans to invest in eight to 12 emerging hedge fund managers offering tickets of $15 million to $50 million, and already has seven managers in the pipeline.
First Avenue is not new to the seeding space, having launched the FAP Hedge Fund Opportunities Fund in 2008. This fund had $127 million in cornerstone investments from a European insurance company. It invested in nine funds and seeded CGP Partners,