Tuesday, 28 July 2015
Last updated 9 hours ago
Dec 16 2013 | 11:08am ET
Cube Capital is spinning off its real-estate business to focus on its core hedge fund business.
Oleg Pavlov, a co-founder of the London- and Hong Kong-based firm, will head the newly-independent real-estate business, which will be called Quadrum, Reuters reports. The new firm, which will be based in London and which will invest in emerging markets and distressed opportunities in developed markets, will take US$350 million of Cube's US$1.3 billion in assets.
The split is amicable: Pavlov will remain a co-owner of Cube, while Cube co-founders François Buclez and Alan Sipols will own minority stakes in Quadrum.
"We are now an institutional fund of hedge funds and [our clients] don't care about the real-estate business," Cube managing director Peter Madsen told Reuters. He said that there will be no loss of clients or staff between the two firms.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…