28/07/2010 Author: Kirsten Oliveri

Family office advisor expands alternatives

Greycourt & Co, an investment advisory firm that caters to ultra-high-net-worth families in the $130m-135m assets range, along with select endowments, is expanding its alternatives platform.

Greycourt, which has $9bn in assets under advisement, is eyeing the energy space and long/short equity for natural resources through hedge funds and funds of hedge funds (FoHFs).

Erik Haskel, managing director, said the firm is interested in active long/short funds in the commodity space and is currently investing in Real Estate Investment Trusts (Reits) through a short-biased hedge fund manager. “We’re being opportunistic in real estate, distressed debt and short-biased Reits. In commodities, we’re betting on volatility, using a couple of managers to focus on that area,” said Haskel.

Greycourt, which only uses external third-party managers, has seen an increase in clients coming to the firm with an existing portfolio of external managers and, as a result, the firm has decided to expand its capabilities to cater to their needs. The firm recently hired Matthew Litwin to head Greycourt’s alternatives platform.