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Seed investor Tages supports US firm’s Ucits hedge fund launch

Signing_dealTages Capital, which provides seed capital to emerging managers of alternative assets, has launched a long/short fund in partnership with a US fund manager.

The firm is working with Dalton Investments in marketing an emerging market alternatives fund built within a Ucits format.

According to UK-based Tages, the Tages Dalton Global Emerging Markets Ucits Fund comes as the firm continues to expand its alternative Ucits fund range, which now has five products within it.

Tages has $2.3 billion (€1.97 billion) of assets under management and said the fund offered had raised about $50 million of institutional capital at launch.

Jamie Kermisch, chief executive of Tages Capital, said Tages already invested in Dalton, and that Dalton had shown it was able to generate uncorrelated risk-adjusted returns.

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