Rubicon Vets Launch $300M Global Macro Hedge Fund

May 1 2013 | 1:12pm ET

At long last, Rubicon Fund Management's former chief investment officers are back in the hedge fund industry.

Timothy Attias and Santiago Alarco's Canosa Capital debuted today with about US$300 million, Bloomberg News reports. The London-based global macro fund is backed by Sweden's Brummer & Partners, which will also own a stake in Cansoa.

Alarco and Attias' new fund will invest in fixed-income, currencies, equity indices and commodities. The highly-liquid portfolio will be structured around three to four themes with six or seven trades in each.

The launch comes a year after Attias and Alarco settled a lawsuit filed by Rubicon, accusing them of breaching their fiduciary duty to the hedge fund after founder Paul Brewer was seriously injured in 2009 when he fell from a horse. The two had planned to open a hedge fund called Sata Partners with former GAM research chief Catherine Cripps in 2011, plans that were derailed by Rubicon's lawsuit.

Canosa charges 2% for management and 20% for performance, although early investors will pay only 1% for management.


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