Schooner Acquires a Mutual Fund
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Thursday, September 01, 2011

Schooner Acquires a Mutual Fund

Schooner Investment Group [see profile] has inked a deal with Madison, Wisconsin-based Nakoma Capital Management [see profile] under which the Nakoma Absolute Return Fund will be reorganized into a a soon-to-be-launched Schooner fund.

The reorganization of the Nakoma fund into the Schooner Global Absolute Return Fund will take place on or about November 4. [ SEC filing]

The Nakoma fund has $22.4 million of assets, according to Morningstar.

A representative for Nakoma Capital was not immediately available to provide comment on the transaction. A representative for Radnor, Pennsylvania-headquartered Schooner declined to provide comment beyond the contents of the SEC filing.

Schooner currently operates one fund, the $49.6 million Schooner Fund, which launched in 2008.

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