Mon, Mar 19, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Innocap teams up with newcomer Akira Capital to launch commodity fund

Friday, December 07, 2012
Opalesque Industry Update – Innocap Investment Management Inc., a strategic alliance between National Bank of Canada and BNP Paribas, has teamed up with Akira Capital Inc., a new Montreal-based fund manager, to launch the Innocap Akira Commodity Fund LP.

Akira specializes in commodity derivative investments and uses a discretionary, multi-strategy approach to trade in listed futures and options across all commodity sectors. Headed by Yves Martin, the firm currently has $25 million of assets under management and was named after a climbing wall located in Western France, which was at one point the most difficult natural climbing wall ever successfully climbed.

Yves Martin founded Akira to manage funds for institutional investors and accredited investors with the aim of delivering positive absolute returns by combining a top-down and a bottom-up investment process focused on commodities. Mr. Martin is Akira’s President and a former Vice President for Jefferies Financial Products in Stamford, Connecticut, after spending most of his career at Caisse de dépôt et placement du Québec, one of Canada’s largest managers of pension funds.

Also on Akira Management team are Vice President, Investments Hervé Fefer, former commodities portfolio manager at Caisse; Chief Risk Officer Paul Turcotte, also formerly at Caisse; and trader and market Analyst Olivier Tardif-Drolet, former trading analyst on the natural gas desk of BP Integrated Supply and Trading. The four partners will also be looking to launch a second commodity fund for U.S.-based and foreign investors in the first half of 2013.

The Fund joins other Canadian managers (Innocap Casgrain Bond Fund LP, Hexavest GTAA Fund LP, NBCAI Credit Dislocation Fund LP and Innocap Sigma Alpha GM+ Fund LP) on Innocap’s Canadian Limited Partnership Structure which has reached $260 million in assets under management as of November 30th, 2012.

The structure thus now houses five specialized Quebec-based managers with strong portfolio management skills and knowledge of local and international markets. The offering addresses investors' appetite for hedge funds while providing visibility for Quebec and Canadian managers. The Innocap platform provides a risk and asset-controlled environment for investing in hedge funds.

(press release)

About Commodities
According to the recent report by Citigroup, “The New Abnormal: 2013 Commodities Outlook’’, the end of the commodity super-cycle combined with extended periods of negative roll yield will cause investors to shift from simple long-only strategies to more enhanced-beta or alpha-focused commodity strategies. The same report also mentions that “exceptional rewards from tail risk events should continue to make commodities an attractive investment vehicle for a wide array of portfolio managers, as no other asset class provides such an opportunity from wildcards’’.

About Innocap
Innocap, which stands for Innovative Capital, is the result of 16 years of investments in hedge fund strategies with approximately $2.3 billion in assets under advisory as of November 30th, 2012. Innocap acts as the Investment Manager for the Canadian limited partnership structure and as Investment Advisor to Innocap Global Investment Management Ltd, which manages a Malta-domiciled collective investment scheme licensed as a Professional Investor Fund. Innocap offers hedge fund managed account solutions using a conservative approach to hedge fund investing with a strong emphasis on risk management, asset control and transparency. This structure increases control over assets; no money is invested directly in the managers' hedge funds. Created by an institutional investor for institutional investors, Innocap's core values, such as a transparent fee structure and no hidden conflicts of interest, are aligned with the high standards expected in the markets.


What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. John Paulson, once the industry's largest hedge fund, to return some investors' money[more]

    Komfie Manalo, Opalesque Asia: John Paulson is reported to be retuning some of his investors' money as a number of his hedge funds continue to suffer setbacks, reports

  2. Investing - Hedge funds amass big bets against world's leading advertisers, Investor Elliott Management buys tiny stake in Wipro[more]

    Hedge funds amass big bets against world's leading advertisers From Hedge funds have amassed bearish bets of more than $3bn against the world's largest advertising companies in an attempt to profit as the industry undergoes ongoing wrenching disruption and slowing growth. Funds i

  3. News Briefs - Investcorp to launch a $100 million PE fund for Omani pension funds[more]

    Bahrain-based investment firm Investcorp will soon launch a $100 million fund dedicated to Oman's Pension Funds as part of its investment plan. 'The Opportunities Fund' will be focused on private equity investments in the U.S. and Europe and will target mid-sized companies across a broad range of se

  4. DoubleLine's Gundlach sees U.S. 10-year Treasury yield rising, weighing on stocks[more]

    From Reuters/ Jeffrey Gundlach, the chief executive of DoubleLine Capital and known on Wall Street as the "Bond King," said on Tuesday the yield on the U.S. 10-year Treasury note will likely move higher and pressure riskier assets including equities and junk bonds. Gundlach, on an

  5. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t