NEW YORK (HedgeWorld.com)–Treesdale Partners LLC launched its fund of funds on Oct. 1 with US$14 million, with seed capital from the LongChamp Group, a New York-based family office.
The onshore and offshore funds, Treesdale Fixed Income Fund LP and Treesdale Fixed Income Fund Ltd., employ the same strategy as a diversified portfolio of relative value fixed-income hedge funds. The LongChamp group plans to allocate its future fixed-income arbitrage exposure through Treesdale’s funds. Both firms plan to leverage off of each other. That strategic alliance combines Treesdale’s fixed-income expertise with LongChamp’s hedge fund investing experience and qualitative due diligence.
Other initial investors include two other family offices that have significant fixed-income hedge fund investment experience. Two European institutions are considering using Treesdale’s fixed-income arbitrage expertise rather than hiring in-house specialists, according to a Treesdale announcement.