BNP Vet McGrath Garners $500M For Hedge Fund

Jun 18 2010 | 12:15pm ET

Former BNP Paribas proprietary trader Andrew McGrath has raised US$500 million for his first hedge fund, with more investors clamoring to get in.

McGrath’s Burren Capital will launch its debut fund on July 1. With a half-billion dollars, it will be the largest hedge fund launch of the year, an impressive figure given the fundraising difficulties even established hedge fund managers have had since the beginning of the financial crisis. And it could have been larger: There is already a waiting list to invest in the fund, according to the Financial Times.

The Burren Global Arbitrage Fund will employ the same event-driven strategy McGrath used to great effect at BNP Paribas, where he was also head of European risk arbitrage. He’s hired several professionals from hedge funds Centaurus Capital and Sandell Asset Management, as well as picking up talent from the collapsed Lehman Brothers.

Burren is based in Gibraltar.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.