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Opalesque Exclusive: GEM re-opens PharmaInvest Fund Nassau, Bahamas-based GEM Global Equities Management S.A. informed that its PharmaInvest Fund, which was closed for new investment since May 16th, has reopened. In a communication obtained by Opalesque, GEM says the management has identified new investment opportunities for new capital. Corporate website: Source

NewSmith launches $100Mm European event-driven hedge fund From Finalternatives.com: London-based NewSmith Capital Partners last month launched a $100 million multi-strategy event-driven hedge fund, and the new offering is off to a strong start. The NewSmith European Fund launched on June 11, employing three strategies to trade Europe-listed stocks. In addition to its event-driven positions, the fund uses two types of risk arbitrage and “classic long/short” trades to achieve its goal of a 15% annualized return.

Fund manager Jean Maigrot says the vehicle is extremely opportunistic: The three strategies are “constantly being allocated and reallocated,” with no specific target size for any one strategy. Full article: Source

Opalesque Exclusive: New French convertibles shop launches first fund As part of its new range of alternative products, Acropole AM, the first asset management company dedicated to convertible bonds, created in 2006, launches its first alte......................

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