Tuesday, 29 July 2014
Last updated 14 hours ago
Aug 1 2013 | 11:35am ET
Caxton Associates will reopen its flagship hedge fund for the first time in years, hoping to raise at least $1 billion.
The $7 billion firm aims to take advantage of what it sees as a surfeit of opportunities, the Financial Times reports.
"Our enthusiasm stems from an identifiable change in the market environment in recent months," Caxton wrote. "The previous regime was characterized on the one hand by 'trendless' volatility in many parts of the capital markets and elsewhere by an incessant hunt for yield, both spurred on by repeated rounds of monetary easing and near-zero official interest rates."
"We believe that recent market developments are foreshadowing many opportunities in liquid markets over the coming months and years."
Caxton's global macro fund is up 17% this year after two disappointing years. According to the FT, the firm plans to add up to $1 billion in assets initially, and could remain open beyond that if enough opportunities remain, according to the FT.
Caxton is the first major macro fund to reopen to new investment in years. During a difficult 2011 and 2012, many such funds actually returned capital to investors, citing a dearth of opportunities.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…