Bulldog Tests Offshore Waters

Saddle Brook, N.J.-based Bulldog Investors is launching a yet-to-be-named Cayman Islands-domiciled version of is activist Full Value Partners fund in January. The new vehicle will launch with some $10 million in initial equity.

The fund is a combination of its Opportunity Partners and Full Value Partners predecessors whereby it will invest in closed-end funds and operating companies trading below its intrinsic value, according to co-founder Steven Samuels.