Commodity Hedge Fund Vermillion Establishes Presence In Shanghai Free-Trade Zone

May 16 2014 | 1:44pm ET

The Carlyle Group's commodity hedge fund unit has set up shop in Shanghai's nascent free-trade zone.

Vermillion Asset Management incorporated a trading unit in the China (Shanghai) Pilot Free-Trade Zone, an 11-square-mile area in China's largest city. The zone offers fewer restrictions on interest rates, yuan conversion and other matters than the rest of China.

New York-based Vermillion's Shanghai unit is headed by Ian McGuinn, Bloomberg News reports.

Vermillion joins fellow commodities traders Trafigura Beheer and Louis Dreyfus Commodities in establishing a presence in the Shanghai zone, which may soon boast commodity exchanges led by Baosteel Group and the Shanghai Gold Exchange.

Carlyle owns 55% of Vermillion, buying the stake in 2012.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of