Hedge funds: First Avenue taps Brazil with fund of funds

First Avenue Partners, a hedge fund advisory firm based in New York and London, is raising money for a new multi-strategy fund of hedge funds investment vehicle that will focus on Brazilian managers. The fund, which will be managed by Brazilian investment boutique Arsenal Investimentos, plans to raise $300 million.

First Avenue Partners, a hedge fund advisory firm based in New York and London, is raising money for a new multi-strategy fund of hedge funds investment vehicle that will focus on Brazilian managers. The fund, which will be managed by Brazilian investment boutique Arsenal Investimentos, plans to raise $300 million.

The Arsenal fund provides investors with access to offshore and onshore Brazilian hedge fund managers active in Brazilian financial instruments. It aims for minimum returns of 15%, with strategies including discretionary macro equity hedge, fixed income, equity arbitrage and long/short equity.

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