Fund of funds Aveon Group postpones IPO

The Aveon Group L.P., an investment firm formed to acquire interests in a group of hedge funds, postponed its IPO on Monday citing poor market conditions. The Marblehead, MA-based company had planned to raise $236 million in order to purchase the GP interests in a stable of nine mid-sized hedge funds with $3.1 billion in aggregate AUM. J.P. Morgan, Jefferies & Co., and BMO Capital Markets were set to be the lead underwriters on the deal.