Ex-Unigestion Hedge Chief Sees US$250M For New Hedge Fund

Jul 13 2012 | 12:53pm ET

Former Unigestion hedge fund chief Philippe Gougenheim has lined up US$80 million for his new hedge fund—with hopes to raise twice as much in addition within just six months.

Gougenheim plans to launch his Glasnost Fund in September. Liquidity will be the byword for new vehicle, which will offer monthly liquidity with just three days notice. Announcing his plan in January, Gougenheim said he wants to have the ability to liquidate Glasnost's entire portfolio quickly, while still producing annual returns of 10% to 12% investing in futures and options.

"My idea is to be everything that hedge funds are not: liquid, transparent, with a focus on capital protection," Gougenheim told Reuters at the time.

The sales pitch is apparently working. Gougenheim now tells Reuters that he'll "have US$80 million on day one." And that's only the beginning.

"We have a very strong pipeline, and if we do what we've said we're doing for the first two or three months, then after six months I think we'll be closer to US$250 million," Gougenheim said. "We don't have any real track record, so some people would like to see us managing money for real. They're very pleased with the paper trading."


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

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

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...