Packer family opens door to hedge fund success

Ellerston Capital begins offshore roadshow to raise $250 million for a long-short hedge fund.
AustraliaÆs Packer family plans to let others in on its private investment strategy by offering local and institutional investors a share in its successful long-short hedge fund called Ellerston Global Managers.

The fundÆs executives began an international roadshow this week to raise $250 million from outsiders to invest in ôcore holdings and special situationsö. The strategy is to take long positions in growing sustainable companies with attractive returns on capital and short positions in companies affected by structural industry decline or with flawed business models.

It is expected that a lot of these opportunities will come from emerging markets like Asia or, more specifically, China where Ellerston is in the process of opening an office...

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