Hanseatische Investment GmbH (HansaInvest), one of the first German fund managers to secure salience to launch and run funds of hedge funds, has formed an alliance with Lyxor Asset Management to launch further funds.
Lyxor, a French investment management company founded in May 1998, is a wholly-owned subsidiary of Socit Gnrale, and has about $ 50 billion under management. It specialises in structured alternative investments, and claims to be one of the pioneers of managed accounts. Lyxor creates stand-alone funds with assets deposited with top-rated prime brokers and managed by an external alternative money manager who replicates exactly the same investment strategy as his flagship fund according to a detailed management mandate. Lyxor currently runs more than 140 funds on its managed accounts platform.
HansaInvest is acting as KAG to Lyxor in Germany. Lyxor will concentrate on the management and distribution of funds of hedge funds, while HansaInvest will handle fund accounting and reporting).
This idea has already been tried by HansaInvest, which launched a fund of hedge funds in co-operation with Pioneer Investments in May.