Vicis Team To Launch Convertibles Fund At Polar

Oct 18 2010 | 10:16am ET

Hedge fund Polar Capital plans to launch a global convertible bond fund, hiring three specialists from Vicis Capital to run it.

The London-based firm has hired David Keetley, Steve McCormick and Kendrick Li to helm the new offering. Polar plans to unveil the convertibles fund on Nov. 1.

The ALVA Global Convertibles Fund will have more than 50 positions, diversified by geography and market sector.

"There is a unique opportunity at this time for us to grow the fund as there is approximately US$5 trillion of U.S. and  European corporate debt that needs to be refinanced in the next five years whilst bank balance sheets have shrunk and many convertible hedge funds remain closed," Keetley said. "Additionally we are seeing a strong resurgence of convertible issuance from Asia. Taken together this will translate into more convertibles investment opportunities with less competition.”

Keetley was head of Vicis' international business and London office before joining Polar. McCormick was a convertibles portfolio manager; he also formerly managed long/short equity portfolios at Moore Capital Management.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of