Ermitage Launches Euro Multi-Strat Hedge Fund

Feb 6 2007 | 9:47am ET

Jersey-based Ermitage Group on Feb. 1 launched its European Multi Strategy Fund with over $30 million. The Caymans-based fund features both directional and arbitrage strategies, with allocations made to European event driven, fixed-income, equity long/short and volatility strategies, as well as commodity managers.

The fund is currently invested in 15 undisclosed managers and “aims to offer institutional investors access to a diversified source of alpha generating opportunities across Europe,” according to the firm. “With the EU expanding and maturing, European-based managers are well placed to take advantage of compelling valuations, increased M&A activity and market inefficiencies.”

The fund charges fees of 1.5/10 with a $100,000 minimum investment requirement. It is targeting annualized return of Libor plus 500 basis points and offers monthly subscriptions and redemptions with 90 days' notice required for redemptions.

Ermitage currently manages some $2.6 billion in total assets under management.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...