Sun, Feb 25, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Navy Capital sees global opportunity set in cannabis

Wednesday, November 29, 2017

Bailey McCann, Opalesque New York for New Managers:

When spirits giant Constellation Brands announced that it was taking a ten percent stake in Canopy Growth, Canada's largest marijuana stock by market cap at the end of October, investors took notice. Deal activity in cannabis was already moving at a pretty steady clip, but to see interest from a major corporate brand signaled to many that cannabis is no longer a nascent industry. John Kaden, Manager and CIO of New York-based hedge fund Navy Capital says the deal will be transformational for the cannabis companies and investors.

"The transaction shows that Canadian cannabis LPs are the dominant companies in the space," Kaden tells New Managers. "We think these companies are well positioned to be acquisition targets for tobacco, alcohol and/or pharmaceutical companies."

For Kaden, the Constellation deal was also proof of concept for Navy Capital's investment strategy. In May, the firm launched its debut fund - the Navy Capital Green Fund - which invests in the cannabis industry worldwide. "Over the next five years, we expect to see a significant number of companies go public in this industry," he says. "We expect to see a broad institutional grade market emerge and some of the risk that have defined the industry to......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Global Sigma captures February's long-vol trade[more]

    Bailey McCann, Opalesque New York for New Managers: Florida-based Global Sigma rode February's volatility to new highs. The firm's AGSF strategy is up +2.8 percent through February 16 and +4.2 percent YTD a

  2. Art & Motion launches collectible car alternative investment vehicle[more]

    Komfie Manalo, Opalesque Asia: Luxembourg-based Art & Motion has launched a new investment vehicle dedicated to vintage cars and exceptional high-quality vehicles as this collectible market has grown exponentially the turn of the centu

  3. Investing - Hedge funds turn short on tech just as stock rally takes off, After biggest short, speculators slash bearish US bond bets as supply deluge looms[more]

    Hedge funds turn short on tech just as stock rally takes off From Newsmax.com: A key group of investors has just missed out on the biggest tech-stock rally since 2014. Hedge funds and other large speculators turned net short on Nasdaq 100 Index futures for the first time in 21 months, ac

  4. Low volatility funds fail to protect investors[more]

    From FT.com: A number of exchange traded funds (ETFs) designed to protect investors from sharp stock market gyrations lost more money than mainstream US stocks during a sell-off this month, underperforming in precisely the conditions in which they were meant to thrive. Low volatility ETFs, lau

  5. Legal - Hedge funds fight to save M&A arbitrage strategy, Fannie Mae and Freddie Mac ruling blow to hedge funds[more]

    Hedge funds fight to save M&A arbitrage strategy From FT.com: Hedge funds which use the US courts to wring higher prices for merger and acquisition deals are fighting to save the lucrative investment strategy, after a Delaware court ruling that threatens to shut it down. Verition Partner