Omega To Launch Canadian Retail Fund

Nov 22 2010 | 9:29am ET

Omega Advisors is the latest major hedge fund offering its services to Canadian retail investors via a closed-end fund.

The New York-based US$4.9 billion firm and Artemis Investment Management are collaborating on the new fund, which unlike Omega's main hedge funds will be available to Canadian investors with a minimum investment of just C$5,000. Artemis, which manages about C$200 million, is already selling shares of the Omega Advisors U.S. Capital Appreciation Fund, according to its prospectus.

The new fund will employ "substantially the same" strategy as Omega's flagship Omega Capital Partners fund, which has enjoyed annualized returns of almost 13% since its launch almost 19 years ago. Omega Capital is a long/short equity vehicle.

It is unclear how much Artemis hopes to raise for the new Omega fund. Shares are being offered for C$10 apiece.

Omega's entry into the Canadian retail market follows those of fellow hedge fund BP Capital and Paulson & Co. The Paulson fund, which was delayed earlier this year after U.S. regulators sued Goldman Sachs over a collateralized debt obligation linked to the firm, is set to close its offer period at the end of the month; it has raised about C$50 million.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Versum Materials (VSM), with a market capitalization of $2.7 billion, enables chipmakers to achieve higher performance at lower cost with enhanced reliability. Versum is a leading global provider of electronic materials for the integrated circuit and flat-panel display markets.