Sunday, 19 April 2015
Last updated 15 hours ago
Mar 19 2010 | 9:12am ET
A pair of Barclays Capital credit traders is founding a hedge fund that will manage UCITS III-compliant vehicles.
Rupesh Tailor and Jose Mosquera will set up the Breogan Global Financials Fund in Madrid, Bloomberg News reports.
Auriga Securities, also based in the Spanish capital, is seeding the new firm, which hopes to raise US$70 million for the fund at launch.
Breogan will invest in banking default swaps, bonds and stocks, hoping to profit from mergers, spin-offs and bail-outs.
“The financial sector is in an unsustainable state of disequilibrium surviving on government life support,” Tailor told Bloomberg. “This creates a plethora of opportunities across the sector.”
Tailor and Mosquera say they hope to raise up to US$200 million for the fund by the end of the year. They also hope to establish Madrid as a suitable alternative to London as a home for the growing number of regulated hedge funds in Europe.
“In addition to a fantastic lifestyle, Madrid and the domestic Spanish market offers untapped opportunities for a sophisticated, absolute-return asset management product,” Mosquera told Bloomberg.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…