US Hedge Fund Managers Europe
US Hedge Fund Managers Working in Europe Again
Despite the impending European Union regulation, US hedge fund managers are still looking for opportunities in Europe. Many hedge funds working across the Atlantic moved back to the US after the financial crisis but now traffic toward Europe is picking up again.
"We are seeing U.S. managers, particluarly midsize U.S managers, looking to sell their products outside the U.S. and to catch up with their European counterparts in offering Ucits funds," said John Donohoe, chief executive officer at Carne Global, referring to a type of onshore hedge fund that can be freely marketed to institutions and investors across the European Union, and which are also being snapped up by investors in Asia, the U.S. and Latin America.
Roughly $200 billion has been raised in these "hedge fund lite" and absolute return Ucits funds according to a Tuesday report from research group Strategic Insight. While European hedge-fund giants Man Group PLC (EMG.LN), Brevan Howard Asset Management LLP and GLG Partners Inc. (GLG) have led the push into hedge fund-style Ucits products, fewer than a handful of U.S. managers have so far set up the structures, which have won favor with investors because of their relative transparency, liquidity and oversight from regulators compared with the usual, offshore hedge fund. Source
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