New York (HedgeCo.net) – New York hedge fund manager, Fund.com, Inc., has acquired a $1 billion hedge fund distributor based in West Palm Beach Fl., Weston Capital Management, LLC.
“With Weston Capital’s proven capability to seed new fund products, combined with its seasoned global institutional sales force, Fund.com is now positioned to capture revenue streams from an array of hedge fund and actively managed ETFs.” Gregory Webster, CEO at Fund.com, said.
Founded in 1993, Weston originates and markets fund of funds, single-manager hedge funds and raises capital to seed new hedge funds. In 2010, Weston Capital formed a strategic alliance for investment manager identification and fund seeding with Harcourt AG, a $4.5 billion alternative investments manager that is majority owned by Vontobel Group, the $70 billion Swiss banking group, is a leading global advisor of alternative investments for institutional investors.
The Harcourt alliance allows Weston Capital and Harcourt to seed and develop new hedge fund businesses via Weston Capital’s incubation platform. The alliance combines Weston’s experience in early stage hedge fund investing and marketing with Harcourt’s investment expertise in global manager selection, due diligence and risk management.
Weston Capital founder Albert Hallac continues as CEO of Weston Capital, directing its day-to-day operations and business strategy. In addition, Fund.com Chairman Joseph J. Bianco will become Chairman of Weston Capital. Weston Capital also has offices in London and New York City.
Since January 2004, Weston Capital’s hedge fund seeding platform has provided sponsor capital for 13 emerging hedge fund managers. Weston intends to raise $250 million for its third incubation fund, Partners III, which will seed both hedge funds and actively managed ETFs, with Harcourt providing investment infrastructure and risk management.
Editing by Alex Akesson
For HedgeCo.net
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