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

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...