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

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.