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Ricardo Maxit By Beverly Chandler, Opalesque London: Ricardo Maxit is the founder of one of Latin America’s oldest hedge fund businesses, Copernico Capital Partners. Established in Buenos Aires in 1999, the firm’s $200m in assets under management are still 70% from local investors. Maxit says: "When we got started there wasn’t much of a hedge fund business in the region." The firm has offices in Montevideo and New York but its largest office is in Buenos Aires. Since those early days, the Latin American hedge fund industry has seen a tremendous amount of growth, particularly in Brazil.
"Big growth has happened in Brazil where you have seen like a boom of new hedge funds mostly in the long/short equity strategy, successfully catering to local and foreign investors" explains Maxit.
Copernico’s funds are value plus in strategy. Their biggest fund is under a Latin American mandate which gives them a great deal of flexibility around the public Latin American markets. "We are very value oriented. We look for a combination of value plus, situations where there is value but also an event where we can unlock the value." This value with an event driven overlay can be applied to fixed income, equities, foreign exchange and interest rate investments and most of the investments are in Brazil, Mexico, Chile and Argentina.
"The idea when we started was to play the boom and bust type of cycle but that has changed. It started nine to 10 years ago when the commodities cycle changed and went...................... To view our full article Click here
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