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Tidan Capital launches UCITS volatility arbitrage fund on Alma platform
The fund began trading on 31 July inside Alma Platinum IV SICAV, attracting more than $100m in commitments from over 10 institutional investors, with estimated strategy capacity of about $4bn.
Tidan Capital launched its NOVA volatility arbitrage strategy as a UCITS fund on Alma Capital's platform, according to Hedgeweek. The Alma Tidan NOVA Volatility Arbitrage Fund went live on 31 July through Alma Platinum IV SICAV.
Hedgeweek reported that the launch secured more than $100m in commitments from over 10 institutional investors, and that none of the seed money came from Alma. The capital was raised entirely from external investors through the two firms' combined distribution efforts.
The strategy trades single stock and equity index options, futures, swaps and foreign exchange, Hedgeweek said. It targets pricing gaps across strikes and maturities that arise when hedging activity, market flows and behavioral biases distort options supply and demand.
Hedgeweek also said the strategy has estimated capacity of about $4bn, and the firms noted that option imbalances often widen during stress periods, including those tied to geopolitical uncertainty, economic instability or earnings announcements. The fund is managed by Magnus Linder and Dennis Karlsson, derivatives specialists who each have about 20 years of experience, and both joined Tidan in 2024 after running a similar strategy at a Nordic bank.
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