{"id":94981,"date":"2024-08-21T00:00:00","date_gmt":"2024-08-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/magellan-capital-to-launch-usd-700-mn-hedge-fund\/"},"modified":"2024-08-21T00:00:00","modified_gmt":"2024-08-21T00:00:00","slug":"magellan-capital-to-launch-usd-700-mn-hedge-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/21\/magellan-capital-to-launch-usd-700-mn-hedge-fund\/","title":{"rendered":"Magellan Capital to launch USD 700 mn hedge fund"},"content":{"rendered":"

Dubai-based investor <\/strong>Magellan Capital<\/a><\/strong> is planning to launch<\/strong> a<\/strong> USD 700 mn multi-strategy fund, set to be one of the largest hedge fund debuts in the UAE<\/strong>, Bloomberg<\/a> reports. Only 5% of hedge funds globally have exceeded USD 500 mn this year, according to industry tracker Preqin.<\/p>\n

The details:<\/strong> The new fund will focus on equity and credit strategies, offering both long-short and long-only stock approaches, Bloomberg cites Magellan head of long-short equities Britney Lam as saying. The long-short investment strategy involves taking long positions in chosen companies, shorting their competitors, or capitalizing on arbitrage opportunities between producers and suppliers. <\/p>\n

Where did the money come from?<\/strong> The fund\u2019s seed capital comes from Magellan\u2019s owner Hassan El Ali\u2019s family fortune. The family founded and sold Zakher Marine International to Adnoc Logistics & Services two years ago for USD 1.1 bn. <\/p>\n

Additional investors, including family offices and sovereign funds, will be targeted once Magellan builds a strong performance record<\/strong> in about a year, according to Lam. \u201cI want to be prudent and make sure the investment process is in place before bringing in too much external capital,\u201d Lam noted.<\/p>\n

More on Magellan Capital:<\/strong> Established in 2024, Magellan now has offices in Dubai, Abu Dhabi, and London, with its staff doubling to over 20. <\/p>\n

ICYMI- <\/strong>Magellan Capital acquired 90% of ship financing firm Danish Ship Finance (DSF) in a EUR 700 mn transaction in June<\/a>, aiming to diversify its investment portfolio. The Dubai-based investor expects three more acquisitions worth some USD 200 mn for the remainder of the year, targeting firms in real estate, luxury, and healthcare. <\/p>\n","protected":false},"excerpt":{"rendered":"

The multi-strategy hedge fund will offer equity and credit strategies<\/p>\n","protected":false},"author":1,"featured_media":94982,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1691],"tags":[7,1393,1342,1776],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-enterpriseam-uae","tag-finance","tag-investment","tag-magellan-capital","wpautop","entry"],"acf":{"mongo_id":"7c68199e-1476-4418-b998-894267a2ce1b","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/212.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Magellan Capital to launch USD 700 mn hedge fund","related_issue":[94974],"teaser":"The multi-strategy hedge fund will offer equity and credit strategies","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.0e99c575-ca7f-4c51-9fc1-9f4d905bd235.mp3"},"yoast_head":"\nMagellan Capital to launch USD 700 mn hedge fund - 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