Ten to 15 money managers will be sought by a new money management joint venture specializing in international private equity. The firm, Darien Fund Management, has been formed by LJH Global Investments, Symphony Asset Management and RogersCasey Alternative Investments.
The venture will focus on investment opportunities in international private equity for institutions and private investors. The company will invest in buy-outs, restructurings and privatizations and take advantage of arbitrage opportunities when privately held companies in foreign markets go public.
RCAI will provide fund management, due diligence and distribution management. LJH and its sister company, LJH Alternative Investment Advisors, a hedge fund consultant, will provide administrative systems and client communications including quarterly reporting, annual audited financial reporting and lead due diligence trips to certain foreign markets. Symphony, a market neutral hedge fund manager, will market the venture to investors.
Symphony and RogersCasey are affiliates of BARRA. BARRA officials declined to provide additional information on the joint venture.
