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Key Check.

Remember the Key Colony Fund Ltd.?

That's the hedge fund organized and managed by Little Rock investment wiz Alex Lieblong.

A big player in the fund reports that Key Colony has racked up a year-to-date return that tops 90 percent.

You might recall the high-risk fund has a fairly steep entry fee: a minimum starting investment of $500,000 and subsequent investments in $50,000 increments.

We understand that Lieblong is looking to expand the investment pool by an additional $20 million and has ponied up $6 million himself.

The fund's payout structure is unusual. All gains, income and dividends will be first distributed to cover any losses and second to cover investment contributions.

After investors recoup their principle investment and losses are made good, the bottom line is split 80/20 between the limited partners and Lieblong.

He also receives a quarterly management fee of 1 percent of the fund's annual net asset value and reasonable out-of-pocket expenses.
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Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 11, 2000
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