Zadig To Launch Long-Only Fund Today

Feb 1 2011 | 6:15am ET

Hedge fund Zadig Asset Management is going long-only.

The London-based firm will launch the new vehicle today, Bloomberg News reports. The Zadig Memnon Fund will be a concentrated affair, investing in no more than 30 companies, but will have a big appetite for assets, all the same: Zadig may raise as much as US$4.1 billion for the fund.

Memnon is having a more modest start, set to debut with €140 million. The fund aims to capitalize on what Zadig sees as unreasonably low valuations in the stock market as skittish players run the other way.

“People have been exhausted by the equity markets,” managing Partner Pierre Philippon said. “You had the tech bubble and the subprime crisis, and they have just lost complete faith. It’s gone too far on the side of cheapness.”

Among the stocks eyed by fund managers Laurent Saglio and Vincent Bourgeois are Banco Bilbao Vizcaya Argentaria and Nasdaq OMX, Philippon said. The duo are targeting returns of 10% annually in excess of the MSCI Europe ex-U.K. Index.

Saglio has been at Zadig, running its €300 million flagship hedge fund, for more than five years. Bourgeois joined the firm from HSBC Holdings in December.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

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

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.