Sail launches new fund of funds

Sail Advisors, an arm of Robert Miller's alternative investment firm Search Group and the largest fund of hedge funds platform in Asia, has launched a new pan-Asia product. The Sail Asia Focus Fund launched in January, seeded with $30 million and has a target of $300 million.The new fund will be run by Eliza Lau, who will act as CIO, along with Denise Hu and Kamni Bharwani. It has a target return of Libor plus 10% and has projected volatility of 10%. Maximum leverage for the new fund …