Saturday, 25 April 2015
Last updated 18 hours ago
Aug 2 2010 | 6:16am ET
GWM Group has launched the first of two planned UCITS III-compliant hedge funds.
The firm’s multi-family office division unveiled the regulation-friendly 7H Absolute Fund last week, Hedge Funds Review reports. A second UCITS-compliant vehicle will follow, CEO Peter Sartogo told the magazine.
The 7H fund is a long/short equity vehicle, investing solely in European-listed stocks and options. It is managed by Simone Chelini and Pietropaolo Rinaldo, the co-founders and co-managers of the Italy-focused Unifortune Albatross Fund.
The firm has already raised €50 million for the new fund, and hopes to raise an additional €250 million to €300 million over the next year. Marketing will initially focus on European institutional investors, but will eventually seek U.S. investors, and features both euro-denominated and dollar-denominated share classes.
The 7H fund charges 1.5% for management and 20% for performance, with a high-water mark. The is a €100,000 or US$100,000 minimum investment requirement, and the fund features weekly liquidity.
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…