Focus Group is forming a partnership with new fund of funds firm Brownstone Advisors to offer a new multi-manager fund targeted at institutions and wealthy individuals, said Matthew Brown, managing principal of Brownstone Advisors. The new fund will be launched Feb. 1 with $10 million to $15 million in commitments; its capacity will be about $500 million, Mr. Brown said. Assets will be spread among 15 to 25 hedge fund managers selected from those already managing assets through Focus Groups six funds of hedge funds, some of which are closed to outside investors. The managers comprise a variety of absolute return strategies in different geographic regions.
Focus Group invests $1 billion for its clients in its six funds of hedge funds.