Former Merrill Lynch Investment Managers managing director Andrew Dalton has established the Dalton ...
Former Merrill Lynch Investment Managers managing director Andrew Dalton has established the Dalton Strategic Partnership, which is believed to be planning two hedge fund launches for the start of December.
The London-based limited liability partnership is looking to launch one global macro and one fixed-income and currency fund, domiciled in the Cayman Islands and listed in Dublin with dollar, euro, sterling and yen denominations.
The launches would come at a time many fund of fund managers are choosing global macro funds for their portfolios.
FranÃ§ois van der Merwe, assistant vice-president in alternative investments at the Bank of Bermuda, said the bank's two funds of funds are looking for the first time at global macro funds.
The planned global macro fund will be able to leverage as well as go short, while the currency and fixed-interest fund will concentrate on the major G7 currency and bond markets.
The prime broker for the funds, each with about $25m committed from investors, will be Goldman Sachs, while the administrator will be Citco.
The funds will seek investors from among institutions, private banks and high net worth investors.
Staying invested could prove lucrative
Consider lasting powers of attorney
Less environment, more governance threatens to undermine firms' green credentials
Evidence your compliance