Canosa Nears US$1 Billion Level

Feb 4 2014 | 11:43am ET

The hedge fund founded by former Rubicon Fund Management chief investment officers Santiago Alarco and Timothy Attias is set to join the billion-dollar club before its first birthday.

Canosa Capital, which debuted in May with US$300 million in assets, had $635 million as of Jan. 20, Bloomberg News reports. The London-based firm was set to get another US$115 million yesterday, with US$250 million more coming by March or April.

Alarco and Attias founded Canosa after a dispute with Rubicon derailed their first attempt to launch a hedge fund. The fund returned 9.4% in its first eight months.

Canosa employs a global macro strategy. In a recent letter to investors, Alarco and Attias wrote that they expect emerging markets "will continue to unwind the excess built up over the past decade" and that developed economies will show "further improvements" this year.

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