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Portfolio > Alternative Investments > Hedge Funds

AmSouth to Offer K2 Funds of Funds

By Staff Writer

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BIRMINGHAM, Ala. (HedgeWorld.com)–AmSouth Bank has agreed to distribute K2 Advisors LLC’s funds of funds to the bank’s high-net-worth clients and institutional investors.

According to AmSouth, the agreement with K2, New York, will give investors diversified exposure to more than two dozen hedge fund portfolios in a variety of strategies. K2 funds will be available to AmSouth’s institutional clients, such as endowments, foundations and pensions, with at least US$25 million in discretionary investments. Individual investors with at least US$5 million in discretionary investments will be offered the K2 hedge funds.

“Our clients look to AmSouth to provide investment planning and access to excellent financial products,” Joseph Keating, chief investment officer for AmSouth’s Wealth Management Group. “Our agreement with K2 will give our clients a broader range of alternatives to consider in asset allocation.” The wealth management group manages US$14 billion in discretionary assets.

K2 has done much to build upon its US$1 billion fund of funds business in the United States, Europe and Asia. K2 has put together a team of 25 former analysts, traders and risk managers from hedge funds, investment banks and asset managers. This includes Kelsey Biggers, who joined the firm in April 2002 from Measurisk, New York, where he was chief executive Previous HedgeWorld Story.

Last month K2 was hired by the Louisiana State Employees’ Retirement System to round off the pension fund’s hedge fund investment. Trustees hired K2 along with Pacific Alternative Asset Management Co., Irvine, Calif., as the public pension fund’s first and only hedge funds of funds managers. The funding of the US$110 million allocation was to be split equally between the two firms in the next couple months Previous HedgeWorld Story.

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