Alternative investment boutique Tages Capital has bolstered its range of alternative UCITS funds for the UK market, with the launch of a global equity long/short fund managed in partnership with London-based Anavon Capital.
It follows the opening in early May of a global credit long/short fund, which is managed in partnership with Fore Research & Management, an established New York-based hedge fund.
The pair of funds are the latest in the group's plans to launch a range of strategies including a European event driven fund and a systematic CTA vehicle.
Tages, which also has offices in Milan and Rome, has a nearly five-year track record of managing money for sovereign wealth funds, insurance companies, pension funds, foundations, family offices and wealth managers, and is developing its business by forming partnerships with a range of boutique alternatives managers, but also plans to launch in-house managed products.
The London office is led by Jamie Kermisch (pictured), formerly at Fauchier Partners and Morgan Stanley, with distribution being spearheaded by Ed Morse, most recently of Thames River Capital and F&C.
Selection of the underlying asset classes is being overseen by the group's CIO, Salvatore Cordaro, formerly head of the alternative investments multi-asset team at Credit Suisse, and one of Tages' founders.
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Kermisch said: "We continue to witness some important trends in alternative asset management since the global financial crisis.
"While investors experienced short-term disappointment with hedge funds during the crisis, appetite has continued to grow, particularly with institutions that still recognise the value of healthy compounding of good quality, risk-adjusted returns.
"This is especially apparent in the current climate of high valuations and record low interest rates, where investors are seeking uncorrelated opportunities with sensible and transparent fee structures."
Tages also recently established an alternative risk premia product on behalf of one of its institutional investors, with capital of approximately $100m.
It also plans to unveil a new vintage of its institutional hedge fund seeding vehicle, Tages Emerging Opportunities fund, which provides up-and-coming hedge funds with seed or acceleration capital.
Tages Capital has around $2.3bn of institutional assets under management, and is part of the broader Tages Group, which has assets of around $5.5bn.
