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Monday, December 10, 2007

ALPS Rocks a New Private Equity Fund

News summary by MFWire's editors

ALPS Fund Services is offering a new mutual fund that invests in the common stock of publicly-traded private equity companies. The Listed Private Equity Fund is sub-advised by Denver-based Red Rocks Capital. The fund will commence operations on December 31.


ALPS Fund Services, Inc., a leading provider of outsourced and advisory solutions to the investment management industry, and Red Rocks Capital, a Denver-based investment advisor that specializes in creating products that invest in private equity, announced today the launch of an innovative mutual fund that invests in the common stock of publicly-traded private equity companies.

The new fund, called the “Listed Private Equity Fund,” is advised by ALPS Advisers and sub-advised by Red Rocks Capital.

The fund has three share classes covering institutional and retail audiences, and will be available through financial intermediaries, and on most mutual fund platforms. The fund has been developed specifically for institutions, financial advisors, family offices, and individual investors through 401(k) programs and as part of an overall diversified portfolio.

“Listed Private Equity Fund” is comprised of 30 to 50 recognized international and domestic publicly-traded private equity firms that, in turn, have investments in over 1,500 private businesses. There are currently over 200 publicly-traded private equity firms that collectively represent in excess of $250 billion in US market capitalization. The average market capitalization of the anticipated portfolio is approximately $3 billion.

“Private equity has been the cornerstone of institutional investors’ asset allocation strategies for years but, until now, most other investors haven’t had access to this important asset class because of very high investment minimums and a lack of liquidity since investments are typically tied up for more than seven years,” said Corey Dillon, Director of Institutional Advisory Services at ALPS. “In partnering with Red Rocks Capital to create the Listed Private Equity Fund, we’re offering all investors access to the private equity world.”

According to SME Financing Data Initiative, institutional allocations to private equity have steadily increased and are projected to continue growing. Endowments and foundations have the highest allocations to private equity, followed by corporate pension funds.

“Listed Private Equity Fund will democratize private equity by providing investors with access to the best and brightest minds in the business world,” said Adam Goldman, co-founder and managing director of Red Rocks Capital. “The fund offers investors four attractive features: portfolio diversification, investment transparency, liquidity and the potential for consistently strong returns with significantly less risk when compared to a single private equity partnership.”

The fund launch underscores the diversification of ALPS’ business model which marked the company’s evolution from pure-play provider of outsourced administrative solutions to the fund industry, to manufacturer of investment products for the financial intermediary marketplace.

Red Rocks Capital has pioneered the development of products that invest in the publicly-traded stocks of private equity firms. Red Rocks Capital is the creator of the Listed Private Equity IndexSM and the International Private Equity IndexSM. The company partnered with ALPS as sub-advisor because of ALPS’ commitment to providing investors with innovative products and its dedication to serving financial intermediaries.

Listed Private Equity Fund is now available for subscription through an initial offering period and will commence operations on December 31, 2007. For more information on the fund, please call 866-759-5679 or email info@lpefund.com.

An investment in the Funds involve risk, including loss of principal.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, please contact your investment professional. Read the prospectus carefully before investing.

ALPS Fund Services, Inc. and ALPS Advisers, Inc. are not affiliated with Red Rocks Capital.

About ALPS Fund Services, Inc. ™

ALPS Fund Services, Inc. ™ is a Denver-based outsourcing solution for administration, compliance, fund accounting, legal, marketing, tax administration, transfer agency and shareholder services for open-end, closed-end, hedge and exchange-traded funds. ALPS has approximately $18 billion in client mutual fund assets under administration. ALPS Distributors, Inc. provides distribution services to over $160 billion in client assets.

For more information, visit www.alpsfunds.com.

ALPS is a registered trademark or trademark of ALPS Fund Services, Inc. ™ in the United States and other countries. All other brand names, product names or trademarks belong to their respective holders.

About Red Rocks Capital

Red Rocks Capital (RRC) is a Denver, Colorado-based investment management firm. RRC focuses on, develops and manages unique and proprietary investment products that complement core institutional portfolios. These products include domestic and international listed Private Equity in both active & passive approaches. RRC principals have over 40 years of combined investment experience in both public and private equity having managed in excess of $4 billion.  

Edited by: Erin Kello


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