Nevsky Chiefs To Launch Smaller Fund

Feb 2 2011 | 11:47am ET

Nevsky Capital's Martin Taylor and Nick Barnes are set to launch a new, much smaller hedge fund after they finish liquidating the firm's flagship this month.

The new fund, called Nevsky Fund Plc as opposed the existing Nevsky Fund Ltd., will also be less tied to emerging markets than its predecessor. Nevsky Plc will not feature a 50% minimum allocation to emerging markets, Bloomberg News reports.

It will also be less than one-quarter the size of Nevsky Ltd. Taylor and Barnes want it to be no bigger than US$800 million—Nevsky Ltd. managed US$3.3 billion before the two men announced they'd stop managing it last year—and the two men already have received more than enough interest to reach that level.

The smaller size of the fund means that Taylor and Barnes will be freed from the marketing duties associated with the larger fund. The two will also be able to use fewer trades, helping to cut the "intensity" they referenced when announcing their exit from Nevsky Ltd.

Nevsky Ltd. will be liquidated by the end of the month. Its final year was a good one: it rose 10% after returning 32% in 2009.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...