Wednesday, 26 November 2014
Last updated 10 min ago
Dec 3 2007 | 7:39am ET
Dexion Capital has raised an additional £460 million (US$946.1 million) for its publicly-listed fund of hedge funds product, making it the largest listed hedge fund vehicle in the world.
Dexion Absolute now manages £1.35 billion (US$2.78 billion), the Financial Times reports, topping Marshall Wace’s Amsterdam-listed MW Tops, which manages US$2.3 billion. The new money is more than twice the amount Dexion sought from investors, but the London-based firm says it’s only the beginning.
According to the FT, the firm aims to win a place for Dexion Absolute in the FTSE 100 Index, which includes the 100 largest British companies by market capitalization. Currently, the smallest company in the FTSE has a market cap of roughly £770 million (US$1.6 billion).
The fund’s investment adviser, Harris Alternatives, says it is not concerned about the big cash infusion. “The ease with which we are putting this capital to work I haven’t seen for a very long time,” Harris CEO Roxanne Martino told the FT.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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