Bulldog Tests Offshore Waters

Dec 1 2006 | 3:47pm ET

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.

“I think the combination of investing in closed-end funds and operating companies is unique because a lot of times we’re finding it difficult in the operating world to find opportunities so instead of pushing things too much, it is very attractive in the closed-end area,” said Samuels.

The new offering charges a 1% managment fee and a 20% performance fee with a $1 million minimum investment .

Since inception in 1993, Bulldog’s Opportunity Partners has netted returns of 16.7% and its Full Value Partners is up 18.4% since Oct. 1, 2001, according to Samuels. The firm, which was founded by Samuels and Phillip Goldstein, is currently managing some $350 million in total assets. 


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Ex-Hedge Fund Billionaire Won’t Run For Senate

Jan 23 2015 | 5:48am ET

Ex-hedge fund manager Tom Steyer will not run for Senate after Sen. Barbara Boxer...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note