Emerging manager selection optimized via hybrid structure of:
-direct investment founder share classes
-experienced operations and due diligence talent
-principle protection option available
-single fee layer
Summary
· NY-based February 2014 hedge fund launch founded by Abby Flamholz and David Wertentheil
· Principals have strong backgrounds in building and managing successful businesses.
· Offers a multi manager strategy in an appropriately priced package with the added benefits of risk monitoring and customization.
· Abby has two decades of experience managing money which include managing large portfolios and numerous traders and portfolio managers in both hedge fund and bank structures.
Strategy
· Discover, diligence, select and monitor best in class, emerging, niche hedge fund managers
· All investments flow through WVP infrastructure in order to remove business risk from typical smaller manager investing
· Launch a diversified series as an absolute return vehicle targeting double-digit net returns with low volatility and low correlation to the S & P
· Provide the flexibility of custom portfolios of emerging managers based on individual investor’s needs
· One layer of fees plus daily monitoring of both the diversified portfolio and individual underlying strategies
Background
· WVP was launched in fall 2012 and has spent the past year designing the fund structure, building the infrastructure, researching managers, as well as developing a long term business plan.
· WVP’s diversified portfolio is designed to make money in all market environments.
· WVP has 7 managed account agreements already in place with unique emerging managers.
· WVP has developed a deep bench of vetted managers to grow both diversified and customized offerings in the future.
Organization
· WVP’s management team consists of three partners: Abby Flamholz, David Wertentheil and Andrew de Montille.
· Abby founded and headed a $600mm relative value hedge fund, has managed sell-side product platforms at Bank of America and Stifel, Nicolaus Weisel, and began her selling and trading career in 1993 at Bankers Trust.
· David has managed the build out of three prime brokerage platforms at Lazard Capital Markets, RBC and Carlin Financial and has extensive experience with proprietary trading and hedge funds since 2000.
· Andrew has advised in the launch of over 100 alternative vehicles in his role at Rothstein Kass, was COO of a global macro hedge fund and is a thought leader on compliance and operational best practices for alternative asset management.
· WVP has a strong advisory board of hedge fund professionals who are either existing or former partners in multi- billion dollar hedge fund firms.
· Targeting $60million for February 1 launch in any of our founders classes below
· Partnering with anchor multi-family office investor who is putting in $25million
· Principals and their families investing $8million
· Commitments of $10million additional day 1 capital comprised mainly of HNW industry professionals
Founders Share Classes
· CLASS A:
o Class size: Up to $50mm
o Minimum Investment: $5mm
o Management Fee: 2%
o Performance Fee: 20%
o Lock-up: 24 month soft lock (followed by quarterly liquidity with a 60 day notice) with the following caveats:
§ 1 year hard lock
§ If one redeems after a year, before the end of the 24 month period, there is a 3% early redemption penalty AND the investor loses the benefit of the special terms below
o Special Terms: WVP, LLC will take the first- loss on up to 5% of capital for all investors in this share class (net of fees as of 24 month lockup expiration).
· CLASS B:
o Class Size: Up to $50mm
o Minimum Investment: $1mm
o Management Fee: 1.5%
o Performance Fee: 20%
o Lock-up: 1 year soft lock with a 3% early redemption fee followed by quarterly liquidity with a 60 day notice
o Special Terms: None
· CLASS C:
o Class size: Up to $50mm
o Minimum Investment: $25mm
o Management Fee: 2%
o Performance Fee: 20%
o Lock-up: 24 month lock (followed by quarterly liquidity with a 60 day notice)
o Special Terms: Revenue share terms to be furnished upon request
RSVP deadline is past