BlueCrest Eyes Third Fundraising For Listed Hedge Fund

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.


In Depth

Change In 'Accredited Investor' Definition Could Hurt Crowdfunding Space

Jul 25 2014 | 8:14am ET

The Securities and Exchange Commission is considering changes to its 30-year-old...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note