K2 Advisors on Tuesday launched a global macro hedge fund of funds, confirmed David C. Saunders, managing partner.
K2 closed its Active Currency Fund, which had about $22 million under management, and will instead invest in currency hedge fund specialists, as well as commodity trading advisers and global macro managers, within the new fund, Mr. Saunders said.
Mr. Saunders declined to give the size of the new global macro fund, but sources with knowledge of the fund's opening, who declined to be identified, said the fund will open with about $100 million under management.
