$ 150 Million raised from Canadian Institutional and High Net Worth
Investors to seed Canadian investment managers
TORONTO, Feb. 5 /CNW/ - Arrow Hedge Partners Inc. and Marret Asset
Management Inc. announced today that they have launched a hedge fund incubator
fund, Accelerator Capital Fund Inc. Accelerator will invest its capital in
early stage hedge funds, managed by seasoned, but largely undiscovered
Canadian investment managers. Accelerator will seek out early stage hedge
funds that utilize a variety of alternative investment strategies, including
long/short equity, relative value, event driven and global macro. Accelerator
has secured commitments for approximately $150 million from institutional
investors, including a major Canadian bank, a pension fund and a wealth
management firm on behalf of some of its individual high net worth investors.
Barry Allan, President and Chief Executive Officer (CEO), of Marret,
stated that "both Arrow and Marret have extensive experience in identifying
top hedge fund managers and in seeding and managing early stage hedge funds.
We realize that the initial capital is often the most difficult to obtain.
Accelerator will provide this and more, including operational and risk
management support and capital raising assistance. We're pleased to put our
collective experience and resources to work for Accelerator."
"We are very excited about Accelerator," said Jim McGovern, Managing
Director and CEO, of Arrow. "It's the first fund of its kind in Canada and we
believe that the fund will give investors unparalleled access to the next
generation of top flight Canadian investment managers. We anticipate seeding
up to 10 managers."
Peter Rizakos has been appointed President of Accelerator Capital
Management Inc., the manager of the fund, and will oversee the fund's
investment and operational activities. He has over 20 years experience in the
financial services industry as a securities lawyer and a senior executive in
the investment fund industry.
About Arrow Hedge Partners Inc.
Arrow Hedge Partners Inc. is an investment management company that
specializes in providing access to high-quality hedge fund managers and
multi-manager funds of funds to a wide range of clients, including family
offices, institutions, pension funds and high net-worth individuals. Arrow is
a member of AIMA (Alternative Investment Management Association) and is a
substantial co-investor in its own funds. Arrow Hedge Partners Inc. is
headquartered in Toronto, Canada, with sales offices in Vancouver, Calgary,
Montreal and Geneva. Arrow currently manages over CDN$1 billion on behalf of
high net-worth and institutional investors globally.
About Marret Asset Management Inc.
Marret was founded by Barry Allan in 2000. Marret is a specialty
credit-oriented fixed income manager based in Toronto. It manages over $1.6
billion on behalf of high net worth, retail and institutional investors,
including over $450 million in high yield hedge funds.
For further information:
For further information: Peter Rizakos, President, Accelerator Capital
Management Inc., email@example.com, (416) 847-3987