Alps Fund Services Inc., a Denver provider of outsourced and advisory solutions to investment management firms, and Red Rocks Capital, a Denver investment adviser, have started a mutual fund that invests in the common stock of publicly traded private-equity companies.
The portfolio, Listed Private Equity Fund, is advised by Alps Advisers and subadvised by Red Rocks Capital, the companies said on Monday.
It has three share classes covering institutional and retail audiences and will be sold through financial intermediaries and on most mutual fund platforms.
The fund was developed specifically for institutions, advisers, family offices, and individual investors through 401(k) programs and as part of an overall diversified portfolio.
The portfolio comprises 30 to 50 recognized international and domestic publicly traded private-equity firms that have investments in more than 1,500 private businesses.
Alps Fund Services has $18 billion of client mutual fund assets under administration as of Sept. 30. Its parent, Alps Distributors Inc., provides distribution services to more than $160 billion of client assets.
Red Rocks has $4 billion of assets under management.
