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Strategic Investment Group Looks to Raise $250M for PE FoF

Strategic Investment Group, which is backed by Friedman, Fleischer & Lowe, is out marketing for its latest private equity fund.

Arlington, Virginia-based Strategic Investment is a fund-of-funds manager that mainly invests in hedge funds, one placement agent says. However, it does have funds that target private equity. The firm is looking to raise $250 million with Strategic Private Equity Fund IV LP, according to sources and an Oct. 9 SEC filing.

Strategic has raised three small PE funds over the last decade. The last pool collected $150 million in 2009, a different source says.

Strategic Investment Group was founded in 1987 by the former senior pension investment team at the World Bank. Hilda Ochoa-Brillembourg, Strategic’s cofounder, president and CEO, declined to comment on the firm’s fundraising.

“Smaller private equity firms do a better job focusing on middle market transactions that don’t get overly crowded,” she said. “That’s the type of PE we invest in and we diversify by investing a small amount into venture capital.”

In August, Friedman Fleischer & Lowe took a majority stake in Strategic Investment, which has more than $29 billion of assets under management. It’s not clear how much FFL invested.

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