Kings Crossing Beefs Up Multi-Strat Platform

Jun 6 2007 | 11:18am ET

Toronto-based Kings Crossing Capital last month added a short-term energy program and a long-term diversified futures program to its multi-strategy platform. The GTAA Program began trading last September with a currency program and was seeded with a US$100 million commitment from an unidentified currency fund of funds.

The short-term energy program trades natural gas, crude, sugar and corn futures, has an average holding period of less than four days, according to founder Richard Whelan. The program was funded with US$2 million by a large commodities fund of funds.

The long-term strategy was a product that the firm acquired from Mohammed Gharbawi, a former Abu Dhabi Investment Authority fund of funds manager. Gharbawi will “continue to contribute to the research activities” of the firm.

The long-term futures fund trades 25 products in currencies, equities, commodities and bonds, and has an average holding period of 60 days. “The product is very complementary to the programs we run in-house as it applies to a multi-strat portfolio,” said Whelan, adding that his goal is to build his firm into a “quantitative-based house.”

Going forward, Whelan also said that the firm will be adding equity-based long/short strategies to the platform within the next 18-24 months. In addition, he is expecting new inflows into the US$70 million platform at the end of this month, ramping its asset base to “well above US$100 million.”

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