|
|
Opalesque Exclusive: Philippe Jabre collects $1.9 billion, closes his fund, `whole of Geneva has invested with him`
By Benedicte Gravrand: A huge accomplishment has been achieved in Geneva, according to local reports. Within eight months, the worldwide hedge fund star Philippe Jabre has collected US$1.9 billion for his multi-strategy fund launched in January in Calvin’s town.
“It is very impressive, the whole of Geneva has invested with him” a financial professional said. Swiss paper Le Temps reported 50% of the amount came from Mr. Jabre’s previous investors - mainly Anglo-Saxons institutions -, from banks (for their own accounts) and from family offices. These investors, who typically place between US$50 and US$100 million, provided the initial seed money. Some of them have known him for some 20 years. As for the later flow of funds, he apparently has been very well received by Geneva’s private banks, who typically invest between US$30 and US$40 million and by various Swiss institutions.
Seeing the hedge fund’s success, the initial international investors consolidated their seed money. In order to curb the general enthusiasm, M. Jabre informed his clients of his fund’s soft-close, which will take place on June 1st.
Mr. Jabre set up his company, Jabre Capital Partners, in Geneva in October 2006. UBS is the fund’s prime broker. He has built a solid reput...................... To view our full article Click here
|
|
RSS
