Hedge fund and private equity firm The Carlyle Group is planning to launch two liquid alternatives funds.
Investment News reported that Washington-based Carlyle will launch a long/short commodities fund and a balanced risk global allocation fund similar to risk parity, both of which will be sub-advised by hedge fund manager Vermillion Asset Management.
Carlyle is the latest hedge fund firm among a growing list, which includes Blackstone Group and KK &Co., that is moving into the liquid alternatives space. Liquid alternatives mutual funds offer daily liquidity and lower fees and investment minimums than hedge funds.
Carlyle manages $185 billion across 122 hedge funds and 81 fund of hedge funds.