Wednesday, 27 August 2014
Last updated 10 hours ago
Sep 25 2007 | 12:34pm ET
Tapestry Investment Co., a London-listed fund of hedge funds managed by New York-based Ramius Capital Group, nearly doubled its assets under management in a new share sale.
The multi-strategy fund of funds, managed by Ramius HVB Partners, a joint venture between Ramius Capital and Germany’s Bayerische Hypo-und Vereinsbank (all investment decisions are made by Ramius Capital), sold 52.1 million new shares on the London Stock Exchange at £1 (US$2) apiece. The fund, which first listed on the LSE two-and-a-half years ago, now boasts about £110 million (US$222.6 million) in assets.
“The portfolio allocations in TIC allowed for strong performance relative to markets and its London-listed peer group during the recent months of severe market dislocation, amid a global deleveraging and credit market upheaval,” Thomas Strauss, CEO of Ramius HVB, said of his fund, which was flat in July and August and up 7.4% through the end of August.
The new shares were sold to both existing and new investors, Tapesty said, and will eventually be merged with the existing shares, with new shareholders getting a proportional number of shares based on net-asset value. Currently, Tapestry shares have an NAV of roughly £1.15 (US$2.33).
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...