Hedge Funds

FRM backs ex-Magnetar team at Victory Park


FRM Capital Advisors (FCA), the hedge fund seeding division of $15 billion global fund of funds group Financial Risk Management, has announced its first strategic relationship with a significant investment in Chicago-based asset-backed financing fund Victory Park Capital Advisors.

The deal comes seven months after the new FRM unit launched its FCA Catalyst fund to invest in emerging managers. Having launched with initial capital of $250 million, the fund is now well on its way to its closing target of about $1 billion by yearend.

The fund expects to make as many as four investments this year and a further