RWC Partners Limited, an investment manager for intermediaries and institutions, has launched Cayman-based European Focus Fund with US$145million under management, representing support from existing investors.
Managed by the European Focus team who joined RWC from Hermes in October 2012, the fund will replicate the existing strategy they have managed in a UK limited partnership since February 2009.
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The RWC European Focus team is co-managed by Maarten Wildschut and Petteri Soininen and they will follow the same investment process they have used since coming together in 2009.
The strategy invests in a concentrated portfolio of 10 to 20 investments combining elements of value-based, private equity and event-driven investing, which takes a long-term active ownership approach to the companies that it invests in with a focus on fundamentally sound companies where constructive activism can help improve shareholder returns.
The strategy has a capacity of up to US$1 billion and the new fund is a Cayman master-feeder fund.
RWC CEO, Dan Mannix, said: "We believe there are growing opportunities for long-term investors to capitalise on the market conditions in which many companies are undervalued and overlooked."
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By GlobalData"Investors are increasingly looking for different ways to access the equity markets to complement their growing books of broad index exposure. Highly concentrated portfolios that take Active management to its fullest extent are a particularly appealing way to add alpha to a broad market strategy.
"As we roll out the European Focus fund we are looking to raise approximately US$750 million of additional assets taking the strategy to USD1bn which offers us the optimum size to generate returns."
