Pioneer US hedge fund-of-funds manager Dick Elden and US multi-strategy manager Saguenay have backed a new Australian alternatives marketing and advisory company.
NWQ Capital Management has been launched in Perth, under managing partner Jon Horton, with Chicago-based Lakeview Partners, Dick Elden’s new activist fund-of-funds, and New York-based Saguenay Capital as shareholders. Elden, who in 1971 founded Grosvenor, BT Investment Management’s hedge fund-of-funds partner, will serve as an adviser to NWQ. Brian Walsh, chief investment strategist of Saguenay, has joined the NWQ board. Other directors are: Jon Horton; James McClements, founder and managing partner of Resource Capital Funds; and Raymond da Silva Rosa, Professor of Finance at the Business School of the University of Western Australia. Horton said: “Alternative investments offer superior risk/return characteristics compared with traditional asset classes; however, investors seeking to diversify their portfolios into hedge funds have to align themselves with successful, world class practitioners. “Saguenay specialises in diversified, multi-strategy hedge fund-of-funds, while Lakeview focuses on activist/strategic block investments. They are managed by some of the most highly respected and successful practitioners and have track records of strong returns. “NWQ Capital Management’s exclusive arrangements will allow our clients to access funds previously not available to Australian investors, including products of renowned managers Phil Falcone and Carl Icahn.” Apart from Saguenay and Lakeview, NWQ has partnerships which overcome high entry barriers and provide access to other leading hedge fund managers and products, the company says.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
