CQS plans UK fund listing in December

Mon Oct 18, 2010 3:20am EDT

* Fund listing expected early December

* RBS Hoare Govett appointed bookrunner

LONDON Oct 18 (Reuters) - Hedge fund firm CQS plans to launch a new fund which will then list in London, the company said on Monday, making it the second manager since last week to announce plans to float a new vehicle.

The firm, which runs $8.2 billion in credit, asset backed security and convertible bond funds, has appointed RBS Hoare Govett as sole sponsor and bookrunner for the transaction.

CQS did not disclose a projected deal size but said admission is expected in early December.

On Friday, Brevan Howard said it is planning to list a new credit fund, also in December.[ID:nLDE69D0IP]

The new fund -- CQS Diversified Fund Limited - will invest in an existing fund of CQS managed funds which was launched in March 2007.

"The company's proposed listing... will provide investors with access to a differentiated convertible and credit focused investment company which invests in a range of CQS-managed hedge funds," said Michael Hintze, chief executive of CQS. Hintze set up CQS in 1999 and was worth an estimated 210 million pounds ($335.9 million) in last year's Sunday Times Rich List. [ID:nLDE6751N2] (Reporting by Chris Vellacott; Editing by Louise Heavens) (For the Funds Hub blog: blogs.reuters.com/hedgehub) (For Global Investing: here)