BlueCrest In Largest Hedge Fund Share Sale In Two Years

BlueCrest Capital Management raised £349 million (US$517 million) for its listed hedge fund, the largest such share sale in more than two years.

The US$19 billion London-based firm took in twice as much as it was seeking for the AllBlue Fund. The C-share listing was the largest hedge fund share capital raise since May 2008, and the second for AllBlue in seven months. The £809 million fund—now the third-largest hedge fund listed in London—raised £101 million in December.

AllBlue serves as a feeder fund for BlueCrest’s Cayman Islands-based fund of hedge funds vehicle.