|Hedge fund AIFAM Inc. recently opened its latest venture, a fund of hedge funds that will invest in 12 to 15 hedge fund managers with a long/short equity strategies.
According to FINalternatives, the AIFAM Hedged Equity Fund launched last week with $17 million and plans to raise $150 million after one year. The fund will aim to raise capital from Japan’s retirement funds by offering alternatives to traditional asset classes as Japanese pension funds look to diversify their portfolios. AIFAM has stated that it will charge management fees but no performance fees on this newest hedge fund of funds offering.|
AIFAM Inc. was founded in 2001 and currently oversees $600 million in assets under management. Tokio Marine Holdings Inc. owns 24.9% of AIFAM Inc.