IPM, the systematic macro manager, has launched a Delaware feeder fund to respond to increased demand from a large pool of investors in the US wanting easy access to its flagship macro strategy.
The fund, which was seeded on 1 June by IPM, will feed into its Cayman flagship master fund, launched 11 years ago with assets currently close to $700 million. The US market, arguably the most sophisticated and developed in terms of size and allocations to hedge funds globally, remains a core investor base for most hedge funds. For IPM, almost half of its hedge fund assets emanate from North American investors.
“The US has always been a strategic market for us, and following several years of regular roadshows, we are gaining increased momentum across this region from major institutional allocators. Whilst sovereigns, pension funds and financial institutions can readily access our strategy in the Cayman based master fund, more and more US onshore investors are keen to access our diversifying strategy which they can now do through the new fund. Given the increased difficulty for US onshore investors, such as large family offices and UHNW investors, to identify broadly uncorrelated strategies, we expect the new fund to be a natural fit for their portfolios. We are delighted that we can now offer an ever-broader spectrum of investors access to our strategy which has an established track record of solid and uncorrelated returns,” says Tara Skinner, Head of Business Development and who led the opening of IPM’s London office last summer.