A private equity-backed, liquid alternatives fundster is preparing to make an acquisition.

Jerry Murphey, president and CEO of Portland, Oregon-based FolioMetrix [profile], tells MFWire that he's "looking at another mutual fund company" that would push FolioMetrix above 20 funds in total. (FolioMetrix currently has 11 funds in its RiskX family.)

"We're looking at doing our first M&A thing, which would quadruple our AUM and double the size of our business in terms of people, and put us on a trajectory that would put RiskX on the map," Murphey says.

Murphey's efforts come after Grail Partners, an asset management industry M&A specialist, invested in FolioMetrix in November. Murphey envisions turning RiskX into "the brand that represents risk management," a category brand that he likens to iShares and what used to be Rydex.

Six-year-old FolioMetrix incorporates 42 different tactical risk management strategies, pulled from a universe of 320 money managers. Its 11 mutual funds recently crossed the $250-million-AUM mark. 

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