Nylon To Use Barclays Settlement To Launch New Hedge Fund

Aug 2 2011 | 12:49pm ET

Nylon Capital is poised to deploy its legal winnings by launching a new hedge fund.

The London-based firm, which netted about US$20 million in a settlement last month with Barclays Bank, will use those proceeds to launch a new global macro fund, Financial News reports. Nylon was forced to close its last fund last year after Barclays yanked its £250 million in seed capital after just four months in 2009.

The settlement followed a May ruling that found Barclays had violated the terms of its seed agreement with Nylon. With the Barclays money, Nylon has about US$50 million in its partnership.

With the Barclays case behind him, Nylon Founder Alan Burnell is actively fundraising for a relaunch. He told FN that he's in talks with several institutional investors about seeding the new fund.

It is not clear when the Nylon will launch the fund.

"It's the ideal time to be a global macro trader," Burnell said. "We're involved in the largest economic experiment ever played out in real time."


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note