BGI's fund of hedge funds aims for $1bn

4 January 2007

Barclays Global Investors (BGI) is launching a fund of hedge funds.

The AlpEx fund will be exclusively aimed at institutional investors and within the first 18 months the intention is to bring together $1 billion of managed assets, reports Thompson Financial.

AlpEx will be headed by Stan Beckers, formerly of Barra International, while the US division will be led by Jonathan Morgan, formerly of Julius Baer alternatives.

BGI is currently the sixth largest global hedge fund manager with more than $23 billion in hedge fund assets, according to Hedge Fund Research.

The firm has ten offices worldwide and covers 50 of the world's equity markets, 18 bond markets and 50 currency markets. Global Investor Magazine describes BGI as the world's largest asset manager.

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