Forward Management formed an alternative investment management unit, Forward Private Advisors, for institutional and high-net-worth investors. Michael Herr was named the unit's director; he was a managing director in the mergers and acquisitions area of Convergent Technologies. Palladium Capital Advisors was hired as the unit's broker-dealer, and Maple Financial Group was selected as the unit's first subadviser. Maple's first product will be the Maple Key Fund, a market-neutral hedge fund of funds, said Mr. Herr. Additional specialist asset managers will be sought as subadvisers for other alternative asset classes, such as real estate and private equity.
Forward Management creates alternatives unit
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