Friday, 29 August 2014
Last updated 5 hours ago
Apr 2 2008 | 7:05am ET
A group of former Deutsche Bank proprietary traders have spun out from the German bank, launching their own multi-strategy hedge fund shop dubbed Arrowgrass Capital Partners.
The new firm is reportedly looking to raise about $1 billion for its global multi-strategy, multi-asset class offering, the Arrowgrass Master Fund.
According to fund documents, obtained by FINalternatives, the fund will allocate 25% of its portfolio to convertible arbitrage bets, 20% each to volatility arb. and special situations, 15% each to distressed and capital-structure arb., and a further 5% to merger arb. plays. By geography, half of the fund’s investments will be based in Europe, with a quarter dedicated to the U.S., 20% to Asia and 5% to other regions. The fund is reserving 10% of its portfolio for side-pocket investments.
Arrowgrass, which is also running a managed account for its former parent, will have offices in New York and London.
The fund charges a 2% management fee and a 20% incentive fee, with a 12-month soft lockup provision. Its minimum investment requirement is US$250,000 or €250,000.
The Arrowgrass management team includes Henry Kenner, CEO and chief risk officer, Nick Niell, chief investment officer, James Barty, head of macro overlay and Michael Sung Wook Chung, head of event-driven.
Arrowgrass officially spun out from Deutsche Bank’s Omnis trading unit in February.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...