Equinox Financial Group is following up on its recent acquisition of Tapestry Asset Management, a hedge fund shop, by launching a long/short fund with Princeton, NJ-based Tapestry as the subadvisor.
According to a regulatory filing, the Equinox EquityHedge U.S. Strategy Fund is a long/short mutual fund slated to launch within the next two months. Afroz Qadeer, chief investment officer at Tapestry, is the portfolio manager of the fund. Prior to co-founding Tapestry in 2002, Qadeer was responsible for hedge fund research and portfolio management at Goldman Sachs.
The fund charges a management fee of 195 basis points for Class A shares, according to the filing.
Tapestry managed some $261 million in assets as of December 31, 2012.
Equinox is no stranger to the alternative mutual fund landscape having launched the MutualHedge Frontier Legends Fund in December 2009.