ARTICLE
8 June 2018

New Public Alternative Funds (June 2018)

KL
Herbert Smith Freehills Kramer LLP

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Herbert Smith Freehills Kramer is a world-leading global law firm, where our ambition is to help you achieve your goals. Exceptional client service and the pursuit of excellence are at our core. We invest in and care about our client relationships, which is why so many are longstanding. We enjoy breaking new ground, as we have for over 170 years. As a fully integrated transatlantic and transpacific firm, we are where you need us to be. Our footprint is extensive and committed across the world’s largest markets, key financial centres and major growth hubs. At our best tackling complexity and navigating change, we work alongside you on demanding litigation, exacting regulatory work and complex public and private market transactions. We are recognised as leading in these areas. We are immersed in the sectors and challenges that impact you. We are recognised as standing apart in energy, infrastructure and resources. And we’re focused on areas of growth that affect every business across the world.
New Public Alternative Funds (June 2018)
United States Finance and Banking
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Fund Name: Cresset Private Equity Opportunity Fund
Adviser: Cresset SPG, LLC
Sub-Adviser(s): None
Fees: 1.25% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor, qualified client; $100,000 minimum initial investment, $10,000 minimum subsequent investment
Filing Date: May 25, 2018
Effective Date: Pending
   
Fund Name: Hatteras Reinsurance Fund
Adviser: Hatteras Funds, LP
Sub-Adviser(s): Not specified
Fees: 1.7% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase; Interval fund)
Investor Restrictions: $5 million minimum investment
Filing Date: May 15, 2018
Effective Date: Pending
   
Fund Name: City National Rochdale Strategic Credit Fund
Adviser: City National Rochdale, LLC
Sub-Adviser(s): CIFC
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase; Interval fund)
Investor Restrictions: $1 million minimum initial investment
Filing Date: May 14, 2018
Effective Date: Pending
   
Fund Name: Hedge Fund Guided Portfolio Solution
Adviser: Grosvenor Capital Management, L.P.
Sub-Adviser(s): None
Fees: 0.55% Advisory Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: Accredited investor; $25,000 minimum initial investment; $1,000 minimum subsequent investment
Filing Date: April 26, 2018
Effective Date: Pending
   
Fund Name: FS Multi-Alternative Income Fund
Adviser: FS Multi-Alternative Advisor, LLC
Sub-Adviser(s): GoldenTree Asset Management Credit Advisor LLC, KKR Credit Advisors (US) LLC and StepStone Group Real Estate LP.
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase; Interval fund)
Investor Restrictions: $2,500 minimum initial investment for regular accounts, $1,000 for retirement plan accounts, $100 minimum subsequent investment for regular accounts, $50 for retirement plan accounts (Class A, L, M and T); $1 million minimum initial investment, no restrictions on subsequent investments (Class I)
Filing Date: April 17, 208
Effective Date: Pending

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