Simple Alternatives seeking 6th manager for hedge fund of funds

Simple Alternatives is searching for a long/short equity manager with a fundamental approach as the sixth hedge fund manager to manage $10 million to $15 million for its S1 Fund.

Simple Alternatives manages about $70 million in a hedge fund-of-funds strategy in a mutual fund structure for small institutional and retail clients, said Josh Kernan, founding partner.

“We like small- and midcap managers that manage between $100 million and $500 million,” Mr. Kernan said. “We are convinced that smaller hedge fund managers have better performance potential. We also aren't afraid to be a 'day one' investor if it's in a fund managed by a portfolio manager with a good track record elsewhere.”

The expectation is that the newest hedge fund manager will be hired by the end of the first quarter, Mr. Kernan said. Interested companies should contact info@s1fund.com.

Simple Alternatives will offer a fairly concentrated investment strategy, limiting the total number of hedge funds in the portfolio to eight to 10, Mr. Kernan said, with managers' individual allocations growing along with the fund.

Existing S1 Fund managers are Blue Lion Capital Management, Courage Capital Management, Lauren Templeton Capital Management, Maerisland Capital and Starwood Real Estate Securities.