WEST PALM BEACH, FL (www.hedgeco.net) – Everest Capital Ltd., has launched a new hedge fund in Sydney, with the assistance from Australian investment and advisory firm, Babcock & Brown Ltd. Thenew fund was launched with an initial public offering for a $300 million ($236 million) listed hedge fund. The new fund will be offered to select clients of Babcock & Brown and Everest Capital,as well as to qualified retail investors according to the report.
According to EBB chairman, Trevor Gerber, the new fund will provide retail investors an opportunity to gain exposure to investments that may only have been available to select groups of high net-worth clients. Gerber said, “This structure facilitates a liquid exposure to an otherwise illiquid investment.� Everest Capital will manage the new strategy, and further details about the new fund were not immediately provided. Fee structure and minimum investments were also unavailable at press time.
Everest managing director Jeremy Reid said, “Our priority is to preserve and compound our capital at double-digit rates of return with low risk.�
Everest Capital is a Sydney-based boutique funds management group founded in 2000. It has more than $1.3 billion under management, and has established two unlisted hedge funds with Babcock & Brown.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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