Hedge fund and fund of hedge funds (FoHF) manager, Jones & Company, is planning to start a new FoHF in February 2011, HFMWeek reports. The High Sierra Partners I Series B, which has a $500 million capacity, is the liquid version of the flagship High Sierra Partners I Fund. The new vehicle will be managed by Curt Breitfuss and Trinidad Guillen. The fund will allocate about 10-20% of its total assets to each of the firm’s six underlying managed futures managers.

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