Ex-Russian Official To Launch Hedge Fund

Sep 15 2011 | 3:40am ET

A former Russian bureaucrat and bank trader has founded a hedge fund firm in Luxembourg.

Alexander Pylev’s Advantage Asset Management will launch its maiden product in the fourth quarter, HFMWeek reports. The global long/short strategy will definitely have exposure to Europe and the U.S., and may invest in Asia as well.

“The situation is very uncertain in the markets,” Pylev told HFM. “With many management companies still struggling after the 2008 crisis, clients are looking for a return on investments from other participants.”

Pylev is in talks with potential strategic partners Axioma Solutions and Topwater Investment Management; he hopes to raise US$100 million for the Advantage Foundation Fund, which has a US$100,000 minimum investment requirement with a three-month lock-up and charges 2% for management and 20% for performance.

Pylev was most recently a trader and adviser at Sudostroitelny Bank in Moscow. He also helped establish the bank’s foreign equities desk. Before entering finance, Pylev worked for the Russian government.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of