Friday, 25 July 2014
Last updated 5 hours ago
May 17 2011 | 2:03am ET
Emerging markets hedge fund Gramercy has launched a multi-strategy best ideas vehicle with more than $100 million.
The Connecticut firm’s Master Fund debuted on April 1, MarketWatch reports, seeded by a $30 million investment from an existing client. The new fund invests in the firm’s best ideas across asset classes, chief investment officer Robert Koenigsberger told clients in a letter.
Initially, the fund has 30% of its assets invested in distressed debt and global macro, with 25% in stocks and 15% in special situations. Koenigsberger explained that the fund was developed over the past few months due to client interest.
“We remain excited about the near and long-term investment opportunities we are seeing in Asia, Europe, Latin America, the Middle East and Africa,” he wrote.
Recently, Koeningsberger, in a column in The Wall Street Journal, was particularly bullish on Europe, urging market-based debt exchanges that could ease the burdens on countries such as Greece and Ireland, creating “less of a need for harsh austerity measures that can lead to social disorder, and, soon after, unruly defaults.”
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…