WEST PALM BEACH, FL (HEDGECO.NET) – Kenneth Jeyaretnam, a player in the widely known Mittal takeover of Arcelor is about to launch his own hedge fund. He is the son of the leader of Singapore’ssocialist opposition, JB Jeyaretnam. The fund will be Global with exposure predominately to Europe, Asia and cross-border US. The fund, which will be based on mergerarbitrage and distressed debt trading, aims to scoop up an initial $500m of investment funds.
The new hedge fund, The Stamford Global Event Driven Fund, will look to Japanese investors for funding. Jeyaretnam, a City derivatives trader, is launching the fund with a bias towards Asian and Australasian markets. While details of investors in hedge funds are typically a closely guarded secret, its FSA authorisation has been obtained through Noble Asset Management, (N.A.M.) although Stamford is expected to apply for authorisation in six months.
N.A.M. has been set up in direct response to growing demand from sophisticated investors seeking to capture the early stage outperformance often displayed by emerging managers and to provide access to future stars.
Jeyaretnam commented “We are delighted to be working with N.A.M. The Principals and employees of N.A.M. have great integrity and have shown real commitment to building a highly successful asset management business. Their network within the industry and relationships with potential investors to include strategic investors is unrivalled.â€Â
He says he has an “exclusive network of advisers and researchers†and his strategy excludes US domestic situations. “I view these as a crowded space,†he says. “I will continue, however, to have the flexibility to look at North America and US cross-border opportunities.†The fund will invest in situations sparked by corporate events, such as a merger or a bankruptcy.
Kenneth Jeyaretnam was previously the Principal Investment Manager of the Titanium Global Event Driven Fund, which was launched in March 2004 utilising a strategy developed by him.
Alex Akesson
Contributing Writer
HedgeCo.Net
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