Praesidium Investment Management is preparing to begin trading a concentrated long-only fund that closely resembles a private equity vehicle but will carry hedge fund-like fees.
Firm co-founders Kevin Oram and Peter Uddo will co-manage the Strategic Opportunities Fund, which will hold 10 to 15 core long positions for three to five years.
Praesidium has limited the marketing of the Strategic Opportunities Fund to institutional investors with corresponding long-term investment horizons, such as universities, foundations and family offices. The firm expects to raise roughly $500 million within the first quarter of next year.
Strategic Opportunities will charge a management