Forbes.com – BlackRock Inc. said on Thursday that it raised $275 million from the London listing of a fund of hedge funds feeder, short of the $500 million target it set in March.
BlackRock Absolute Return Strategies Ltd (BARS) is a closed-ended vehicle that provides access to the $11 billion BlackRock Alternative Advisors’ Appreciation Strategy. This is the firm’s flagship fund of hedge funds strategy which has delivered positive annual returns to investors every year since its launch over 12 years ago.
The amount raised from the listing of Jersey-domiciled BARS could increase to $284.5 million if an over-allotment option granted to UBS, the global coordinator and stabilising manager of the share placing is exercised. This option is is exercisable until May 24.
