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Liongate Readies More Concentrated FoF

Randall Dillard, partner at London-based Liongate Capital Management, has shed light on the firm's plans for its second fund of hedge funds, which will launch in the next couple of months.

Randall Dillard
Randall Dillard, partner at London-based Liongate Capital Management, has shed light on the firm's plans for its second fund of hedge funds, which will launch in the next couple of months. The Liongate Select Fund will be a 'best ideas' concentrated version of the firm's flagship Liongate Multi-Strategy Fund, investing in 20-22 of the existing fund's 35 managers, said Dillard. It will combine exposure to niche strategies and aggressive managers. As such, the new fund will aim for higher returns but with greater volatility it will suit investors who can stomach monthly draw-downs in the pursuit of significant out-performance in the longer term, explained Dillard.

The fund of funds will launch with $20-30 million from existing investors. It will be rolled out in either October or November, depending on how quickly allocations are received, said Dillard. It is likely to charge the same 1.5/20 fee structure as the existing fund, with a $1 million investment minimum. No target capacity has been set.

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