Tuesday, 27 September 2016
Last updated 11 hours ago
Jan 11 2007 | 11:11am ET
Amsterdam may not be the only place in Europe to list a hedge fund anymore. With the U.K. Financial Services Authority reportedly relaxing rules to allow single-strategy funds to list on the London Stock Exchange, London-based hedge fund manager Brevan Howard hopes to raise between €500 million and €1 billion in a floatation during the first quarter. Another London manager, Polygon, is also considering an LSE launch.
Yet another London hedge fund firm, Marshall Wace, raised €1.5 billion when it listed its MW TOPS on Euronext Amsterdam last year.
Currently, the FSA forbids single-strategy funds from listing in the U.K. because they fail to meet diversification requirements. The regulator also imposes restrictions on short-selling by publicly-listed entities not amenable to hedge funds.