21 Feb 2008
RNK Capital, with $1.2 billion under management, on March 1 will launch the Grey2O Fund, a long/short equity strategy. It will invest in companies focused on water utilities, infrastructure, pipeline, equipment and water treatment, including companies that make desalination machines. There are an estimated 10-20 similar funds globally, most of which are based in Europe, making the New York-based firm’s launch stand out.
“Water is where carbon was five-to-seven years ago,” said a money manager. “It’s way undervalued and that won’t last forever.” Moreover, unlike most water-focused funds, the Grey2O fund will have 25% of its portfolio in companies that are solely related to water.
The fund has 2/20 fees with an investment minimum of $1 million. Goldman Sachs is the prime broker. RNK runs several energy- and technology-focused strategies, all managed by Founder Robert Koltun, who will also manage this fund. Before founding the firm, he was a director at hedge fund firm LRL Capital Partners.
—Suzy Kenly
No comments:
Post a Comment