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Opalesque Exclusive: Shore Capital Group to launch fund that will invest in credit crunch opportunities, AUM up 54%, revenues down in 2007
Shore Capital Group plc, the investment bank focused on equity capital markets and alternative asset class funds, is launching Puma European Opportunities Fund in 2008. The fund is to invest in opportunities arising from the credit crunch. Lehman Brothers have pre committed $50m, Lord Sterling will chair advisory board.
Shore Capital Group also announced its preliminary unaudited results for 2007. Funds under management grew by 54 per cent to over $3 billion at the end of December 2007 and revenues went from £42.1m in 2006 to £38.8m ($78.23m) in 2007.
Howard Shore, Chairman of Shore Capital Group, said: “With our strong balance sheet and liquidity, we are seeking to take advantage of these challenging market conditions, whilst preserving our cautious approach. Our strategy is to continue to build on our strengths and to exploit opportunities by innovating where we can, such as the launch of our new European Opportunities Fund.”
Shore Capital is a London-listed independent investment banking group based in London, Liverpool, Frankfurt and Berlin. Corporate website:
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Former ADM executive launches hedge fund
From AsianInvestor.net: New Hong Kong-based hedge fund manager Myo Capital is launching the Myo Capital Master Fund....................... To view our full article Click here
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