Magellan Capital Announces $700 Million Hedge Fund Launch Next Month

Magellan Capital Holdings Ltd., a Dubai-based investment firm, is preparing to launch a $700 million multi-strategy hedge fund next month, marking one of the largest hedge fund debuts in the UAE. The fund will focus on both equity and credit strategies, according to Britney Lam, head of long-short equities at Magellan Capital.

Lam mentioned that the firm plans to start discussions with key allocators, such as regional family offices and sovereign wealth funds, once they establish a track record over the next 12 months.

In a related move, Magellan Capital recently acquired a majority stake in Danish Ship Finance (Danmarks Skibskredit) from Nordic private equity firm Axcel and other Danish pension funds, including PFA Pension and PKA A/S. The €700 million deal was partially funded by Magellan Capital’s $360 million bond issuance earlier in July.

Source: Bindu Rai / Zawya