TORONTO, April 20 /CNW/ - Star Hedge Managers Corp. II (the "Fund") is pleased to announce that the Fund has closed its initial public offering of 6,000,000 Units at a price of $10.00 per Unit for gross proceeds of $60,000,000.

The Fund has been created to provide long term capital growth by investing in a portfolio consisting of private investment funds managed by three of Canada's leading portfolio managers: Rohit Sehgal of Dynamic Funds, Eric Sprott of Sprott Asset Management LP and Frank Mersch of Front Street Investment Management Inc.

Each Unit consists of one Class A Share of the Fund and one warrant ("Warrant") to purchase one Class A Share. Each Warrant entitles the holder to purchase one Class A Share at a subscription price of $10.00 on April 30, 2012. Warrants may be tendered for exercise on and after April 16, 2012 and up to April 27, 2012.

The Class A Shares and Warrants, comprising the Unit, will separate immediately following the earlier of 30 days after today's date and the date of the closing of the final exercise of the Over-Allotment Option, which is exercisable at the option of the Agents until 30 days after the date hereof to purchase up to 15% of the aggregate number of Units issued at the closing of the offering on the same terms.

The Units are listed on the Toronto Stock Exchange under the symbol XHG.A and the Class A Shares and the Warrants will (on the separation) be listed on the Toronto Stock Exchange under the symbols XHG and XHG.WT, respectively.

BMO Nesbitt Burns Inc. is the promoter and one of the Agents in connection with the offering and will act as administrator of the Fund.

The Units were offered for sale by a syndicate of agents co-led by BMO Capital Markets and CIBC, National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. and included Canaccord Genuity Corp., Dundee Securities Ltd., GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Macquarie Private Wealth Inc., Manulife Securities Incorporated and Wellington West Capital Markets Inc.

This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any member of the syndicate listed above. Investors should read the prospectus before making an investment decision.

SOURCE Star Hedge Managers Corp. II

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