London-based Fauchier Partners has launched a fund of hedge funds focusing on special situations, Hedgeweek reports.
The objective of the new Jubilee Special Situations Fund (JSSF) is to provide investors with the premium returns more commonly associated with longer term and less liquid investments.
The new fund has a return target of LIBOR plus 8 percent. It has been designed as an ideal vehicle for investors who are able to commit funds for longer time periods and who require diversification from and better liquidity terms than typically offered by private equity investments.
JSSF, which is the latest fund in Fauchier Partners’ Jubilee range of fund of hedge funds for institutional investors, was launched on 1 April with approximately $50 million committed. It will initially be open for investment until June 2007.