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ENSO Capital Management and UBS Announce Joint Venture to Establish UBS ENSO FUND
Enso Capital Management, LLC ("Enso"), a New York based registered investment adviser, and UBS Fund Advisor, L.L.C., an indirect subsidiary of UBS AG ("UBS"), today announced a joint venture establishing UBS Enso Management, L.L.C. ("UBS Enso"). UBS Enso will act as the investment adviser of the UBS Enso Fund (the "Fund"), a newly formed, registered, closed-end investment management company.
The new investment company is available to UBS clients who meet the requirements for a "qualified client" under Rule 205-3 of the Investment Advisers Act of 1940. In managing the Fund, UBS Enso will invest both long and short in a broad range of global equity securities. The Fund's investment objective is to achieve consistent risk-adjusted returns that are uncorrelated to both general market indices and hedge fund indices, while at the same time preserving capital and minimizing downside risk and volatility. "We are excited to be aligning Enso with the exceptional wealth management platform at UBS," said Josh Fink, CEO and Chief Investment Officer of Enso. "Partnering with UBS-a recognized leader in the management and distribution of over $100 billion in alternative investment assets-creates a unique and powerful opportunity to expand our global investor base." "Enso's ability to source 'off the beaten track' global investment ideas will create unique investment opportunities for UBS clients," said Stephen Roussin, Head of Investment Solutions US-the unit responsible for the manufacturing and distribution of UBS' robust alternative investments platform.