Tuesday, 21 April 2015
Last updated 16 min ago
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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…