Traxis May Launch UCITS Hedge Fund

Jul 23 2010 | 1:49pm ET

Traxis Partners may join the UCITS III bandwagon.

The New York-based hedge fund, headed by former Morgan Stanley chief strategist Barton Biggs, may launch a UCITS-compliant fund, The Wall Street Journal reports. Another New York-based hedge fund, Paulson & Co., is also launching a UCITS-compliant offering.

UCITS hedge funds have taken in about $100 billion, as hedge funds—primarily in Europe—scrambled to launch vehicles that will be exempt from the European Union’s proposed alternative investments regulations.

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