Engine I
GT CORE
Proprietary discretionary engine
- Equity dislocation · opportunistic
- Unlevered, low frequency
- Entirely owned and operated by GAP
- Available standalone (SP8) or inside MSF1
The Fund
MSF1.
Multi-Strategy Fund One.
As the mature evolution of its first-generation predecessor, MSF1 distils the essence of GAP's multi-strategy approach — inheriting the same investment ethos, core team, proprietary risk architecture and the full experience curve compounded over the previous five years. The flagship hedge fund of the GAP platform — an absolute-return, multi-strategy fund built around two orthogonal return engines — MSF1 sharpens diversification by construction, portfolio engineering and dynamic capital allocation.
Two enginesOne Hedge Fund,
One Hedge Fund,
two distinct return sources.
MSF1's return profile is engineered by two orthogonal engines operating side-by-side within one regulated fund. Uncorrelated by construction — convex by combination.
Engine II
EPMs
External Portfolio Managers · curated multi-strategy roster
- Hyper-sophisticated specialized HFs
- From multi-billion names to UFO rising stars
- Selected by merit, not by name
- Consistent alpha generation through cycles
- Long-standing partnerships, deep alignment of interests
Strategy mapAccess
Access
the inaccessible.
External Portfolio Managers (EPMs) are among the most sophisticated hedge funds in the world: strategies of analytical complexity that few professionals can replicate, most of them with closed vintages, large entry tickets around $15–20m, no public reporting, fiercely guarded teams and proprietary IP. Famous within the industry, unreachable for individual investors. Through MSF1 you gain more than access — continuous sourcing, due diligence and conviction-weighted allocation, integrated with our institutional risk framework and the GT CORE engine — into a curated roster of these specialists, spanning multiple orthogonal strategies.
Three walls keep ordinary investors out.
I
The Capital Wall
Capacity-constrained · closed-door
"$10–25m to enter — most never do."
- $10–25m minimum tickets
- Closed vintages with soft or hard lock-ups
- Some large-ticket only, others totally off the radar
II
The Information Wall
Total opacity · zero marketing
"If you can't see it, you can't replicate it."
- Minimal public footprint, low press exposure
- No public NAVs, no monthly reports
- Undisclosed teams, anti cross-recruiting culture
III
The Reputation Wall
Insider-only · word of mouth
"Known to insiders. Invisible to the world."
- Known because you're in the industry, not through Google
- Reputation built among peers, never marketed
- Typically reserved to global, sophisticated institutional investors
What we look for.
I
Edge
Proprietary alpha · niche specialization
"Alpha that can't be indexed."
- Differentiated alpha, hard-to-replicate process
- Niche specialization, proprietary informational edge
- No factor-replicable beta
II
Discipline
Capital preservation first
"Process beats prediction."
- Rigorous, repeatable risk frameworks
- Founders materially invested
- Methodical process, no style drift
III
Track record
Verified · not marketed
"Verified through cycles, not marketed."
- Risk-adjusted KPIs across regimes
- Independently verified, not marketed
- Multi-year alignment of interests with GAP
AllocationsRegime-aware exposure,
Regime-aware exposure,
disciplined ranges.
Allocations are dynamic and conviction-weighted, never static. Each line below shows the range occupied since inception and the current sizing as at April 2026.
By strategy
Range since inceptionCurrent
Allocation ranges since strategy inception (January 2020) — current allocation as at April 2026. Source: GAP internal data.
Why MSF1
Engineered to institutional standards.
Annual BDO BVI audit
Full audit of the SPC and each segregated portfolio conducted annually by BDO BVI, including controls testing and substantive valuation review.
Six-year continuous track record
Continuous performance since January 2020 — through pandemic, bear market, rate-tightening cycle. Same investment ethos, applied with discipline.
Transparent reporting
Monthly factsheet, quarterly commentary and full DDQ available on request. Audited financials produced annually.
Tier-one infrastructure
Folio Funds administrator; BNY Mellon (US) and FundBank (KY) custodians; Ogier Global legal counsel; BDO BVI auditor.
Documentation
Request the MSF1 pack.
Factsheet, presentation, DDQ and term-sheet available on request to eligible institutional and professional investors. Share-class terms are summarised on the dedicated terms page.