Tuesday, 27 September 2016
Last updated 9 hours ago
Oct 1 2012 | 8:07am ET
Bryan Garnier Asset Management has launched a Malta-based UCITS platform that aims to offer U.S.-based hedge funds to European clients.
The Bryan Garnier Umbrella Fund SICAV will be externally managed by BGAM in France. Service providers include Deutsche as custodian and fund administrator with responsiblity for FX share class hedging, PwC as auditor and Lecocq Associate as external legal counsel.
The platform, in the works since 2011, has signed up a first sub-fund—Denver, Colorado-based Madison Street Partners, a $175 million equity long/short manager. Fund manager Drew Hayworth says the strategy “fits very well within the UCITS platform.”
Steve Wallace, BGAM managing director, said other funds will be added to the platform later this year.
“There continues to be a dearth of US hedge funds in the UCITS universe, especially when you look at those managers running niche strategies with lower capacity levels which makes it all the more exciting to market,” said Wallace in a statement.
BGAM is part of Bryan Garnier & Co, an independent investment bank specializing in European healthcare, TMT and renewable energies growth companies.