Dexion Capital eyes further listed fund launches
LONDON, June 6 (Reuters) - Hedge fund consultant Dexion Capital plans two listed investment fund launches over the next year, with alternative assets such as infrastructure and areas hit by market falls such as high yield debt being considered. With global financial markets having experienced widespread turbulence over the past year, investors are showing interest in alternative investments that can make money in all market conditions or that are less correlated with traditional assets.
In April, for instance, ADM Capital said it had raised $418 million for a five-year private equity-style closed-end vehicle investing in special situations and distressed assets in Asia and Europe.
"We're looking to expand our product base into other types of assets within the alternative asset space -- single manager hedge funds, infrastructure," group managing director Ana Haurie told Reuters in a recent interview.
Chairman Robin Bowie said the firm was looking at areas such as special situations, distressed debt and high yield.
"The opportunity set has got a lot better ... There's more value to be had as a result of (market) dislocations," he said.
Dexion said it is likely to launch one of the funds in the third or fourth quarter of this year, with the second fund coming in the first half of 2009.
Last month hedge feeder fund BH Global (BHGG.L), for which Dexion acted as joint bookrunner, said it had raised $1 billion from a placing with investors, double its initial target. (Reporting by Laurence Fletcher, editing by Will Waterman)
