Hedge Funds

Synthesis Brazil play


aNew York fund of funds shop Synthesis Asset Management is aiming to capitalize on the new interest in Brazilian hedge funds and is teaming up with Brazilian hedge fund firm Hedging-Griffo to offer a new fund for U.S. and international investors based on two longstanding Hedging-Griffo products.

The fund, to be called HG Global Macro and based on Hedging-Griffo's Verde and Alpha hedge funds, began trading in early February with $40 million. Synthesis has strong ties to the Brazilian market and is positioning the product as a hybrid of the two Hedging-Griffo funds.

The new fund will invest in