Reuters – SAIL Advisors, the Hong Kong-based fund of hedge funds, aims to raise $200 million to $300 million for a distressed asset fund which will likely launch in the first quarter of 2010, a top executive said on Tuesday.
“As a strategy it was not popular in 2009 as investors were still focused on liquidity but there are lots of longer-term, 2-3 year, investment opportunities out there,” Vincent Duhamel, CEO of SAIL Advisors, told Reuters.
Duhamel said SAIL, which was set up by Duty Free Shoppers’ co-founder Robert Miller, was already in talks with investors about raising the money.
