ML Capital Partners With Ronit Capital On New L/S UCITS Fund

Apr 10 2017 | 8:56pm ET

ML Capital has announced the launch of a new UCITS-compliant global long/short fund in partnership with Ed Misrahi’s London-based emerging markets specialist Ronit Capital.

The new fund, named the Ronit Global Opportunities UCITS Fund, will focus on liquid emerging markets and the European periphery. It will be domiciled in Dublin and hosted on ML Capital’s  MontLake’s UCITS platform.

The fund seeks long-term absolute returns by trading a fundamental, bottom-up strategy with macro overlays. It will only invest across a liquid capital structure and is expected to have an equity bias over time, the company said in a statement. 

Misrahi, Ronit’s founder and CIO, will manage the fund, which is currently passported for sale in the UK, Ireland and Spain.

“We are pleased that Ronit has selected the MontLake UCITS Platform to launch the Ronit Global Opportunities UCITS Fund,” said Cyril Delamare, CEO of ML Capital, in the statement. “We have every confidence that the team’s proven emerging markets track record and their ability to invest in both long and short equity will better enable them to strengthen returns regardless of emerging market conditions. 

The launch comes just a few weeks after ML Capital launched an UCITS-compliant convertible absolute return fund in partnership with Quest Global Advisors. 

Founded in 2009, ML Capital specializes in a range of alternative and traditional investment solutions for a global client base, with over $3.2 billion of assets under management across a suite of products. The company’s MontLake UCITS Platform now has 22 funds providing investors with access to a range of liquid, transparent and regulated alternative investment strategies.

Ronit Capital, meanwhile, was formed in 2013 by Misrahi and Luis Arenzana. The alternative asset manager has deep underlying expertise in public and private emerging markets as well as event-driven, long/short strategies. Misrahi was formerly a founding partner at New York-based hedge fund manager Eton Park.

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