Friday, 9 October 2015
Last updated 14 hours ago
Sep 16 2010 | 2:05pm ET
BlueCrest Capital Management is poised to raise another £80 million for its listed hedge fund product, the only such product trading at a premium to its net asset value.
The firm preparing the issuance of up to 9.99% of new shares in each of the AllBlue Fund’s share classes, which could total £80 million. The move could help cut the fund’s premium; the fund is up about 6.57% this year, Financial News reports.
The new fundraising would be AllBlue’s third in a year. The fund raised a total of £449 million in share sales in December and June. The fund manages about £818.4 million.
“This proposed placing responds to the considerable demand we have witnessed from investors following the company’s successful £349m fundraising in June,” Richard Crowder, chairman of AllBlue, said. “BlueCrest AllBlue is performing well and is trading at a premium to net asset value. BlueCrest remains confident that it represents an attractive opportunity in current market conditions.”
RBS Hoare Govett and Dexion Capital are serving as joint bookrunners for the new share sale.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…