Key Takeaways
- • Tages Capital deployed more than $500 million in seed investments over two years and won "Best Seeder" at the Hedge Funds Review European Fund of Hedge Funds Awards 2015, recognizing its position as one of Europe's most active seed investors.
- • The company manages approximately $545 million across multiple funds: Tages Emerging Opportunities ($200 million), LFP Absolute Return Selection ($85 million), and a $100 million insurance-linked securities fund launched with Deutsche Asset & Wealth Management; Palmerston Capital acceleration deal represents $260 million in assets.
- • Tages is deploying up to an additional $600 million in capital with strategic focus on UCITS and single-manager funds, targeting three to five fund launches within the next 12 months.
- • The firm structures flexible seeding deals tailored to manager objectives, occasionally originating proprietary product ideas with established managers and taking revenue share or reduced-fee arrangements on commingled vehicles.
- • Infrastructure and UCITS funds represent priority expansion areas, driven by strong European institutional demand for these asset classes.
Summary
Tages Capital has established itself as a leading European seed investor through aggressive capital deployment and strategic fund launches over the past two years. The firm won the "Best Seeder" award at the Hedge Funds Review European Fund of Hedge Funds Awards 2015, reflecting its emergence as one of Europe's most active participants in the seeding space. Since beginning its seeding business from scratch, Tages has committed more than $500 million to seed investments. Additionally, Tages Platinum Growth, the firm's long/short equity fund of hedge funds offering, was named best long/short equity fund of hedge funds at the same awards ceremony.
The company's asset base spans several vehicles with distinct mandates. Tages Emerging Opportunities, a Cayman-domiciled fund launched in January 2014, manages just over $200 million and focuses on seeding and acceleration deals with new and emerging alternative managers. In parallel, the firm operates LFP Absolute Return Selection, a French-domiciled UCITS fund managing approximately $85 million in collaboration with Morgan Stanley. In January 2015, Tages provided full capital for a $100 million insurance-linked securities fund developed in partnership with Deutsche Asset & Wealth Management. The firm also completed a $100 million acceleration arrangement with Palmerston Capital, a credit long/short fund, in mid-2014; that vehicle now manages around $260 million in assets.
Looking forward, Mark de Klerk, head of seeding strategies, outlined an ambitious expansion agenda. Tages is deploying up to $600 million in additional capital with particular emphasis on UCITS and single-manager funds, targeting three to five fund launches over the next 12 months. The firm views infrastructure funds and UCITS vehicles as priority areas given robust European institutional demand. Tages distinguishes itself through flexible deal structuring that begins with manager objectives rather than standardized templates. The firm has occasionally originated proprietary product concepts with established managers, seeding commingled vehicles in exchange for revenue participation and favorable fee arrangements.
The company's asset base spans several vehicles with distinct mandates. Tages Emerging Opportunities, a Cayman-domiciled fund launched in January 2014, manages just over $200 million and focuses on seeding and acceleration deals with new and emerging alternative managers. In parallel, the firm operates LFP Absolute Return Selection, a French-domiciled UCITS fund managing approximately $85 million in collaboration with Morgan Stanley. In January 2015, Tages provided full capital for a $100 million insurance-linked securities fund developed in partnership with Deutsche Asset & Wealth Management. The firm also completed a $100 million acceleration arrangement with Palmerston Capital, a credit long/short fund, in mid-2014; that vehicle now manages around $260 million in assets.
Looking forward, Mark de Klerk, head of seeding strategies, outlined an ambitious expansion agenda. Tages is deploying up to $600 million in additional capital with particular emphasis on UCITS and single-manager funds, targeting three to five fund launches over the next 12 months. The firm views infrastructure funds and UCITS vehicles as priority areas given robust European institutional demand. Tages distinguishes itself through flexible deal structuring that begins with manager objectives rather than standardized templates. The firm has occasionally originated proprietary product concepts with established managers, seeding commingled vehicles in exchange for revenue participation and favorable fee arrangements.
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