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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Grosvenor Cap Provides Seed Money for Chicago Firm

Jan 23, 2013
Jing Chen

Two hedge fund firms have entered into a strategic partnership together.

Chicago-based Continuum Investment Management announced Tuesday that it has received $85 million in seed capital from Grosvenor Capital for its new multi-strategy fund.

Continuum founder Kevin Scherer, who is a former managing director at Citadel, told eVestment that the new fund will launch “shy of $100 million” in capital next month. Scherer also added that he expects the fund’s assets to increase to "somewhere between $250 million and $500 million within the next three or six months."

The Continuum deal is the third strategic partnership made by Chicago-based Grosvenor since it launched its emerging manager program at the start of 2012. The firm manages about $22 billion in assets.


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