Hatteras Inks Subadvisory Agreement with Adams Street Partners

Nov 14 2016 | 11:58pm ET

Liquid alternatives specialist Hatteras Funds has chosen Adams Street Partners for a subadvisory relationship that will provide access to wide array of private equity strategies. 

It is the latest subadvisory agreement for Hatteras, which seeks to provide financial advisors access to a series of evergreen private investments strategies through multiple such relationships. The partnership follows a series of strategic changes over the past year at Hatteras, including the November 2015 announcement that the firm had re-established itself as an independent, employee-owned alternative investment boutique. 

Hatteras Funds selected Adams Street Partners as the private equity subadviser because of its long history of experience and expertise, the company said in a statement.

“Our subadvisory relationship with Adams Street gives us much-needed access to return enhancing strategies in today’s otherwise low growth environment,” said Michael Hennen, head of investment management at Hatteras Funds. “Our focus has always been to provide financial advisors with alternative investment solutions that help them to build better portfolios for their clients. Adams Street Partners’ experience across a broad array of private strategies enables us to offer additional alternative investment capabilities.”

“We are excited to advise Hatteras and believe their experience developing alternative investment solutions on behalf of financial advisors will enable us to deliver meaningful value to both advisors and their clients,” added Jeff Diehl, managing partner of Adams Street Partners.

Adams Street Partners was founded in 1972 and has 44 years of exclusive private markets experience, managing over $28 billion of assets. The firm reportedly established the first private equity fund of funds and one of the first dedicated secondary funds.

Based in Raleigh, NC, Hatteras Funds was founded in 2003 by David Perkins. The boutique investment firm provides a range of liquid alternative investment solutions for financial advisors and their clients, including multi-strategy, absolute return, equity long/short, managed futures and debt long/short funds. 

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