Brummer Seeds Asian Event-Driven Fund Launched By Millennium Vet

Dec 6 2010 | 4:28am ET

Sweden's Brummer & Partners is setting up an Asian event-driven hedge fund shop to be headed by a former Millennium Management portfolio manager.

Brummer will seed Singapore-based Orvent Asset Management, as well as owning half of the new firm. The rest will be owned by Orvent's three portfolio managers, led by Scott Collison.

Orvent will debut next month with US$150 million provided by Brummer. It will employ a market-neutral approach to betting on corporate events, Bloomberg News reports.

Collison is the former manager of Millennium's Asian equity event-driven and arbitrage strategies. He has also done stints at Rubicon Asset Management and Credit Suisse Group.

For its part, Brummer will invest in Orvent—the 11th fund manager in its platform and the 2nd in the Asia-Pacific region—through its Multi-Strategy fund of funds, which invests in Brummer funds and those on the platform.

Goldman Sachs and Skandinaviska Enskilda Banken serve as prime brokers for the new fund.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR