US-based alternatives manager Millburn Ridgefield Corporation has launched an offshore fund of funds, with $20m of proprietary capital from Deutsche Bank Asset Management as a seed investment.
The new fund, Millburn Alternative Investments Limited (MAIL), is a broadly diversified portfolio of 20 to 30 funds. These will be drawn from the following sectors: event driven; US hedge funds; non-US hedge funds; relative value; and global asset allocator.
Millburn's marketing director, Mark Fitzsimmon
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