Credit hedge fund shop Christofferson Robb & Co. is taking its strategy into more liquid waters, as well as across the pond.
The New York- and London-based firm is planning a more liquid version of its flagship strategy for launch in February, HFMWeek reports. In addition to restricting itself to senior asset-backed securities which feature secondary markets, the CRC Liquid Strategies Fund may also invest in the U.S., where its predecessor has remained firmly entrenched in Europe.
"The situation resembles 2002, when we launched the credit fund," CEO Richard Robb told HFMWeek. "The bank capital securities had proliferated for a period of time, have undergone stress and now present opportunities for an opportunistic investor."
Robb and fellow CRC namesake Johan Christofferson, along with managing director Brad Golding, will manage the new fund, set to launch with US$100 million in initial capital from family offices and pensions. It will have a US$500 million capacity and a US$1 million minimum investment with monthly liquidity on two months' notice.
The fund will charge 1% for management and 20% for performance.