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Kirkoswald plans new emerging markets credit hedge fund next year
The London-based firm, which manages about $20 billion, plans to spin out an emerging markets credit strategy and run it with a more directional approach focused on high-yield sovereign debt.
Hedgeweek reports that Kirkoswald Asset Management is preparing to launch a new hedge fund focused on emerging markets credit, citing strong investor demand for alternative strategies and Bloomberg’s account of the plans.
According to the report, the London-based firm, which oversees around $20 billion, will spin out an emerging markets credit strategy from one of its existing funds. The new vehicle is expected to begin trading next year and will take a more directional approach.
The strategy will target opportunities in high-yield sovereign debt, and the article says sources requested anonymity because the plans have not been publicly announced.
The fund is expected to be managed by the former Emso Asset Management team led by Giorgio Lombardo, while Greg Coffey will not be involved in managing the new fund, according to the report cited by Hedgeweek.