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Matthias Knab reports from South Africa: Uys Meyer (48) from Cape Town based Bluebay Investment Management is one of the pioneers who helped go get the South African hedge fund industry off the ground. After having worked in a number of banks in investment banking and trading related positions, he co-founded Decillion in 1996, where he designed the first limited liability structure for a hedge fund vehicle in South Africa. Bluebay’s Mayflower multi-strategy fund was launched in October 2003 and has about 1bln Rand in assets, In addition, the team of eight professionals runs 500m Rand in mutual fund and managed account structures.
Private equity fights to get into South Africa – and what about hedge fund investors?
A Johannesburg based private equity specialist says “you can’t imagine how much private equity money – dominantly from the U.S. and Europe - is pressing into South Africa, competing for deals. Deal volumes are substantial, for example at the moment, private equity firms compete to take a large retailer – Edcon, 20bln Rand market cap – private. “And where are the hedge fund investors?”, asks Meyer. According to a local source, about 1bln Rand out of a total of 15bln Rand of total hedge fund assets are from foreign investors.
Easier access through dollar feeders
Bluebay offers a dollar denominated offshore feeder account, and already has a number of foreign investors, one of which is a well knows Swiss fund of fund. The fund runs the fo...................... To view our full article Click here
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