AIG Investments and Larch Lane Advisors LLC have paired to make seed investments in hedge funds.
The new joint venture expects to invest $50 million to $200 million per deal, covering a variety of hedge fund strategies and geographies.
New targets may include hedge fund startups, teams leaving established hedge funds and established hedge funds that need restructuring, according to an announcement.
AIG Investments comes into the new partnership with more than $10 billion in hedge fund assets under management and investments in more than 130 of these funds.
On the other hand, Rye Brook, N.Y.-based Larch Lane has made 22 seed investments over the last seven years.
“Talented investors are leaving large hedge funds to start their own businesses, but many of them have not been able to reach their capital targets,” Mark Jurish, chief executive of Larch Lane, said in a statement.
“The current supply/demand imbalance for startup hedge fund capital represents the best seeding opportunity I’ve ever seen.”
AIG Investments is the investment arm of American International Group Inc. of New York.
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