13/07/2011 Author: Elana Margulies

PanOptic Capital opens first fund to investors

PanOptic Capital Management, a Connecticut-based equity management firm, has launched its maiden fund, a global emerging markets strategy, to outside investors, HFMWeek has learned.

The PanOptic Emerging Markets Equity Fund, which rolled out earlier this year, will target global allocators, initially funds of hedge funds (FoHFs), family offices and select institutions, to reach its $1bn capacity.

“Emerging markets are going to account for approximately 75% of the global growth going forward and we believe that the absolute best way for investors to capture this opportunity is being invested in the local shares,” said Craig Brownell, managing partner.

The fund is diversified with 70 to 100 underlying holdings across sectors, market capitalisations and geographies. It has a $1m investment minimum and investors can decide between two share classes.

At the beginning of July, the firm established a foundation share class, which carries 1/10 fees and a one-year lock-up for partners who want to allocate up to $100m. Meanwhile the A share class has 2/20 fees and a soft lock-up of three months with a 2% penalty. There is monthly redemption with five days’ notice. Bank of America Merrill Lynch is the prime broker.