The fund of hedge funds manager is in the process of carrying out due diligence on a number of managers so that it can invest its 17% cash holdings. By the end of August 2009, it is expected to have invested in 16 core hedge fund managers. Oakley Absolute Return is looking to increase its core holding by adding some macro managers to its hedge fund portfolio. It is seeking managers that have invested a significant proportion of their own capital to their fund, to ensure alignment of interests between investors. It is looking for hedge fund managers raising funds of approximately USD 350 million.
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