Tuesday, 16 September 2014
Last updated 8 hours ago
May 27 2010 | 1:35pm ET
Newly-relocated Prana Capital has big plans in its new home.
The hedge fund last month moved its investment team—including founder Peregrine Cust—from London to Singapore. And it’s bullish on the future, both of the Asian markets and of its own fund.
Prana hopes to double the size of its eponymous flagship this year, from US$125 million to US$250 million, Bloomberg News reports. Cust said the firm will focus its marketing efforts on institutional investors in its new home region.
“We’re going to see a fall of western currencies—perhaps not the same magnitude that we saw in regards to the fall of Asian currencies during the ’98 crisis—but we’re going to see something similar,” he told Bloomberg.
Cust, research director Jason Roberts and analyst Srina Patel have already relocated to the city-state. Trader Mihail Nedev is set to follow in August, while marketer James Wheeler will remain in the U.K.
“We like to get our hands pretty dirty and meet with the companies and do that extra bit of due diligence, not just rely on that information flow from the broker community in London,” Cust explained.
The Prana Fund is up 4.6% through the first four months of this year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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