MutualFundWire.com: Lighthouse Buys a Slice of a Fund Firm
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Wednesday, March 7, 2012
Lighthouse Buys a Slice of a Fund Firm
A fund-of-hedge-funds specialist just bought a piece of a mutual fund firm.
Today Denver-based alternative mutual fund firm 361 Capital
[profile]
unveiled a strategic partnership with Palm Beach Gardens, Florida-based
Lighthouse Partners, bringing Lighthouse in as a minority stakeholder in
361.
Lighthouse offers its own managed accounts program full of various hedge fund
strategies and manages about $6 billion in assets. Brian Cunnigham,
president and chief investment officer of 361, described the partnership as a
way to help expand 361's lineup of "liquid alternative investment products."
"I believe this new relationship will prove to be a win for everyone
concerned," Cunningham stated.
Lighthouse CEO Sean McGould added that he's "extremely impressed" with
the 361 team.
361 launched its first mutual in 2010 and its second earlier this year.
Company Press Release
361 Capital Announces Partnership with Lighthouse Partners
Strategic Relationship to Leverage Both Firms' Alternative Investment
Capabilities
DENVER, Mar 07, 2012 -- 361 Capital, a provider of alternative investment
mutual funds, separate accounts, and limited partnerships to institutions,
financial intermediaries, and high-net-worth investors, today announced the
firm has entered into a strategic partnership with Lighthouse Partners, a
fund-of-hedge-funds and managed account investment adviser.
The relationship provides Lighthouse Partners with a minority equity stake in
361 Capital and access to its affiliated advisors and intermediaries. Both
firms will continue to operate independently.
Brian Cunningham, 361 Capital's President and CIO, expects to leverage
Lighthouse Partners' expertise in creating alternative investment products to
expand the firm's lineup of liquid alternative investment vehicles.
"We're absolutely committed to providing our clients with a full suite of what
we believe are well-engineered liquid alternative investment products," says
Mr. Cunningham, "and having access to Lighthouse Partners' expertise to that
end is truly an exciting prospect. I believe this new relationship will prove
to be a win for everyone concerned."
Florida-based Lighthouse Partners has developed its own proprietary managed
accounts program with over 90 investments across a full range of hedge fund
strategies, including equities, credit, managed futures, and Asian region
investments. The firm currently manages approximately $6 billion in assets.
"We are extremely impressed with 361 Capital's team and knowledge of the
alternative investment mutual funds," said Lighthouse Partners CEO Sean
McGould, "and we share the same vision of developing investment funds that seek
to provide clients with greater access to a broad range of alternative
investments."
About 361 Capital
361 Capital is a Registered Investment Advisor focused on managing liquid
portfolios of alternative investments. Founded in 2001, the Denver-based firm
launched its first mutual fund -- the 361 Absolute Alpha Fund -- in 2010. In
January, they announced the launch of the 361 Long/Short Equity Fund and the
361 Managed Futures Strategy Fund. In addition, they have created the 361
Alternatives Education Center to assist advisors and their clients in
understanding and utilizing different alternative strategies. 361 Capital's
products are distributed through investment advisors and institutions. For more
information, call 866-361-1720 or visit www.361capital.com .
About Lighthouse Partners
Lighthouse Investment Partners, LLC is an investment manager focused on
providing alternative investment solutions to investors through both multi-
strategy and focused fund of hedge fund offerings and customized solutions.
Lighthouse manages approximately $6 billion for institutional and private
investors with offices in Florida, Chicago, New York, London and Hong Kong. The
proprietary managed account program is a hallmark of Lighthouse's investment
process.
Investors should consider the funds' investment objectives, risks, charges and
expenses carefully before investing. For a prospectus, or summary prospectus,
that contains this and other information about the Funds, call 1-888-736-1227
or www.361funds.com . Please read the prospectus, or summary prospectus
carefully before investing.
Past performance does not guarantee future results. The Funds' performance may
be influenced by political, social and economic factors affecting investments
in foreign markets, including exposure to currency fluctuations relative to the
US dollar, less liquidity, less developed or less efficient trading markets,
lack of comprehensive company information, political instability and differing
auditing and legal standards. Emerging markets tend to be more volatile than
the markets of more mature economies. The value of securities held by the Funds
may fall due to general market and economic conditions. The securities of
small-cap companies may be subject to more abrupt or erratic market movements;
trading may be more erratic or have lower volume than securities of larger
companies. Fixed income securities are subject to the risk that securities
could lose value because of interest rate, inflation and credit changes.
Derivatives can be highly volatile, illiquid and difficult to value, and
changes in the value of a derivative held by the Funds may not correlate with
the underlying instrument or the Funds' other investments. The Funds may make
short sales, which may expose the Funds to the risk that it will be required to
"cover" the short position at a time when the underlying instrument has
appreciated in value, thus resulting in a loss to the Funds. Losses may be
incurred even if they are "covered". The use of leverage may further magnify
the Funds' gains or losses.
Funds' performance may be more vulnerable to changes in the market value of a
single position and more susceptible to risks associated with a single
economic, political or regulatory occurrence than a diversified fund. The Funds
may have limited or no track record on which to base investment decisions.
Regulators may undertake rulemaking, supervisory or enforcement actions that
would adversely affect the Funds. Active and frequent trading may lead to a
greater proportion of the Funds' gains being treated for federal income tax
purposes as short-term capital gains or to distribute taxable income to its
shareholders sooner than it would have distributed income if the investments
were held for longer periods of time. Frequent trading and overlapping security
transactions including ETFs would also result in transaction costs, which could
detract from performance.
The 361 Funds are distributed by Grand Distribution Services, LLC, 803 W.
Michigan Street, Milwaukee, WI, 53233.
SOURCE: 361 Capital
Printed from: MFWire.com/story.asp?s=39381
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