Monday, 27 April 2015
Last updated 5 hours ago
May 15 2012 | 1:21pm ET
Barclays is preparing to launch a credit hedge fund in the third quarter with hundreds of millions in initial assets, the bank's first such vehicle.
The Barclays Credit Opportunities Strategy will be a long/short fund, HFMWeek reports. Other details of the strategy, to be managed by Bruce Ivory, were unavailable.
Ivory worked at Citadel Investment Group and GSO Blackstone before joining Barclays. At Citadel, he was a senior analyst, while at GSO, he led credit trading. At Barclays, he now works in funds and advisory, but formerly led Barclays Capital's proprietary credit trading desk.
Investor interest and market opportunities were the driving forces behind Barclays' decision to launch Credit Opportunities, a source told HFM. The firm currently manages multi-asset funds; Ivory's will be its first credit-specific hedge fund.
Barclays is still fundraising for the new vehicle. The bank does not seed its hedge funds, so all of its assets will come from outside investors. Barclays is currently marketing the fund to institutional investors, high net-worth investors and funds of hedge funds.
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…