Reuters- London & Capital Group, a $3 billion fund that invests in hedge funds, said on Monday its U.S. arm could raise more than $1 billion by 2009 in six new investment vehicles aimed at European markets.<\/p>\n
The London-based hedge “fund of funds” said its Miami-based U.S. unit, London & Capital Investment Advisors Inc., designed the new vehicles to give U.S. investors access to certain European strategies that its parent company developed over 16 years.<\/p>\n
The strategies include three multi-asset class portfolios, one fixed income portfolio and two European commercial real estate strategies, the firm said. Each is expected to raise between $100 million and $200 million over the next 18 months, the firm said.<\/p>\n
The “Loncap Range of European Alternative Investment Strategies” will be overseen by Tony McLoughlin, head of U.S. operations.<\/p>\n
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Initially, the new funds will invest in established funds managed by the London-based parent company, such as the Loncap European Commercial Real Estate Strategy, which has produced annualized returns of 15 percent over three and a half years, it said.<\/p>\n