Hedge fund vehicle Dexion Absolute raises $950 mln
LONDON (Reuters) - Fund of hedge funds Dexion Absolute (DAB.L: Quote, Profile, Research, Stock Buzz) said on Monday it had raised $950 million, well above its original target, through an oversubscribed issue of new shares.
The trust said it would have net assets of around $2.78 billion after the issue, making it the UK's biggest listed hedge fund vehicle.
In October, the trust said it was looking to raise 200 million pounds ($412.9 million) by issuing new shares.
"We are very positive about the opportunities now opening up for talented hedge fund managers and are excited to be able to put new money to work for Dexion Absolute's investors," Roxanne Martino, chief executive of the trust's investment adviser Harris Alternatives, said.
(Reporting by Laurence Fletcher)
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