Agari Capital Management, a start-up hedge fund firm based in Vanuatu in the South Pacific, is seeking seed investors prior to launching its first hedge fund, probably in August. The Savadenn Fund will be a long/short U.S. equity fund focused on the energy, alternative energy, natural resources, biotechnology and nanotechnology sectors, said Fabrice Quéguineur, founder and cio. The firm is already running the strategy internally with $5 million of Quéguineur’s own money and hopes to launch the fund with $100 million, he added.
The Cayman-domiciled fund will carry a 2% management fee and a 20% performance fee with a high-water mark. It will have a $100,000 investment minimum. Quéguineur is undertaking a roadshow through Europe and Asia in search of seed investors, and is also talking to funds of funds that might invest once a significant amount of assets has been raised, he said.
Quéguineur used to be a portfolio manager at €75 billion French firm Groupama Asset Management.