Attucks Asset Management LLC, Chicago, a specialist in emerging, minority- and woman-owned investment, is launching its first hedge funds-of-funds family.
Leslie F. Bond Jr., managing director and CEO, said the first of the new Revolution Funds will replicate the multistrategy hedge fund-of-funds portfolio that Attucks has run for five years in a $6 million separate account for a single institutional client. Mr. Bond declined to identify the client.
Attucks' portfolio managers will create both commingled and customized managed accounts for institutional investors using the multistrategy approach and will, in time, offer single strategy funds, such as long/short equity and global macro.
Attucks will run the new fund family using Riverside Portfolio Management LLC's hedge fund investment platform. Mr. Bond said the platform offers “an elegant solution” because it provides a simple way for investors to access separate accounts that offer full daily portfolio transparency, due diligence, risk management, custody and administrative services.
Attucks, a manager of managers, manages a total of $1.8 billion for institutional investors.