Barclays Global Investors is launching a new fund of hedge funds aimed at institutional investors.
The AlpEx fund is expected to reach $1 billion in managed assets in the first 18 months, according to Thompson Financial. Stan Beckers, who was previously with Barra International, will head AlpEx, and Jonathan Morgan, formerly of Julius Baer alternatives, will lead the US division.
With more than $23 billion in hedge fund assets BGI is the sixth largest global hedge fund manager.