Hedge Funds

Real estate fund to target coastal properties


Last Atlantis Capital Management is preparing to launch a real estate hedge fund that will concentrate on buying oceanfront property in Maine.

The St. Charles, Ill., firm, which manages roughly $400 million through 14 hedge funds, is expected to launch the portfolio in the second quarter with $50 million in capital.

The fund will be managed by Irwin Berger, a former managing partner at SJO. A commodity trading advisor, SJO at its peak ran $400 million. The firm wound down in 2003, and Berger joined Last Atlantis in 2005.

The firm will restrict its first real estate fund's strategy