28/09/2011 Author: Elana Margulies

Moab scores its first institutional allocations

Moab Partners, the New York-based event-driven hedge fund started by Perry Capital veterans Michael Rothenberg and David Sackler, has scored its first institutional investor allocations this quarter, taking its total assets under management close to $300m firm-wide, HFMWeek has learned.

According to a source familiar with the plans, US insurance companies were among the institutional investors, making this allocator group 10% of firm’s AuM, trailing family offices and funds of hedge funds, which account for 60% and 25% of assets respectively.

The inflows come on the heels of recent reports that the hedge fund industry is set for continued inflows despite a run of poor performance. The latest Preqin investor study from July revealed that investors are preparing to allocate between $125bn and $195bn in the next 12 months.

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