October 09, 2006
Thomas Lee Plans Hedge Fund
Thomas H Lee Capital Management recently said that it plans to float its fund of funds hedge fund, Lee Diversified Opportunities Limited, on the London Stock Exchange. The main focus of the fund will be on mitigating risk and preserving capital, by investing in at least 45 individual hedge funds selected by the holding company. Lse.co.uk reports:
The company said that it intends to issue three classes of shares, denominated in US dollars, euros and sterling, respectively, with quarterly conversions permitted between the three classes. The company hopes to achieve returns of 22.1 pct, and it is taking LIBOR as its benchmark, which it aims to outperform by 850 basis points.
Read more: Thomas H Lee plans to float hedge fund
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