Thursday, February 01, 2001

Laurus to Open Hedge Fund

Laurus to Open Hedge Fund
Alternative Investment News
By Pamela Appea
February 2001

Laurus Capital Management, LLC is launching a hedge fund that will focus on convertible debentures, will have onshore and offshore versions and be targeted toward institutions and high-net-worth individuals.

The fund, Laurus Family of Funds, is starting with seed capital of $5 million and has a target of $100 million, which Laurus seeks to raise over the next six to nine months.

This is the first time that Laurus Capital Management is actively seeking outside and institutional investors, said Eugene Grin, manager of the Laurus Family of Funds. Laurus, which has four other funds, has basically run investments for friends and family, Grin noted.

Laurus Family of Funds will largely rely on word-of-mouth to attract investors, he added.