Robertson Stephens Investment Management, in its first overseas venture, will manage a U.S. equity fund, modeled after the firm's Value + Growth mutual fund, for institutional clients of Nomura in Japan.
The unit trust - Robertson Stephens & Co. 21st Century Fund Series - will be distributed to Japanese banks, insurance companies and pension funds by Nomura. The strategy, managed by Ron Elijah, will invest in mid-and large-cap equities with attractive growth characteristics. The first offering of the fund closed in two months. Officials of both firms declined to say how much was raised.
In addition to the Nomura venture, Robertson Stephens is registering offshore hedge funds in the Cayman Islands. It already runs hedge funds for private U.S. investors.