The Allocator - Apr 13 - Partners Capital | With Intelligence

Former Partners Capital duo launch FoF business

Valence8 launches three new funds to invest in HF, PE and traditional equities managers

Caroline Ryan
8 APR 2022

The former Partners Capital CIO and head of North America have teamed up to launch a fund of funds business that will invest in hedge funds, private equity and venture capital funds, as well as traditional equities managers.

London-based Colin Pan, most recently the CIO at the $35bn private investment office, and Boston-based Brendan Corcoran, a former Partners Capital head of North America, are joined in the launch of Valence8 by George Lai and Alejandro Goldberg.

San Francisco-based Lai was most recently a managing director at a family office, and New York-based Goldberg was a portfolio manager at MIO, which provides asset management services for McKinsey’s retirement plan. In February 2022, it hired Lawrence Small as the firms CCO.

To invest in hedge funds Valence8 launched a fund named, Diversified Strategies, which will back managers running strategies with low correlation to traditional markets and other active investment managers.

It is understood for long/short equity and multi-strategy funds, Valence8 is interested in North America, Europe, and the Asia Pacific. For arbitrage/relative value strategies, the firm is focused on North America and Europe.

The firm’s Valence8 Directional Opportunities fund invests in public markets using a long-only or long-biased strategy, and the Valence8 PE 2022 Fund will offer investments in private equity and venture capital strategies.

Investments may include limited partnerships and funds, co-investments and direct investments in companies backed by private equity sponsors.

The firm may invest part (for Directional Opportunities and Diversified strategies), or all (for the private equity and venture capital strategy) of clients’ assets in investments in illiquid securities, or funds or securities that do not have a readily ascertainable market value, according to a regulatory filing.

It is understood that the firm works with high-net worth individuals, family offices, trusts, investment companies, family foundations and institutional clients. Clients must have a minimum of $200m available for investments, although the amount may differ depending on each fund.

The firm has $312m in regulatory AuM.

Valence8 did not respond to a request for comment.