Zadig To Launch Long-Only Fund Today

Feb 1 2011 | 5:15am 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: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.