Sands Brothers Asset Management has launched a new hedge fund that provides asset-backed loans to small companies in need of short-term capital.
Genesis Merchant Partners, SBAMs first single-strategy hedge fund offering, began trading on October 23 with roughly $2.5 million and has an estimated capacity of $200 million.
The firm manages $175 million in a handful of venture capital funds and a $75 million fund of funds known as The Select Access Funds. Brothers Martin Sands and Steven Sands founded the firm in 1999 and started the Select Access Funds in 2001.
Genesis launched at a time when some small companies