New Star sets up convertible arbitrage hedge fund

The firm hired Sajid Ramzan and Chris Beton from Soros last week to develop the new convertible arbitrage fund, supplementing the four existing long-short hedge funds the company currently manages. Ramzan and Beton have worked for some 15 years managing convertible and statistical arbitrage desks at Soros, Commerzbank and Deutsche Morgan Grenfell.

The fund aims to raise $250 million–500 million in the medium term, says Ravi Anand, corporate finance director at New Star, and currently has two investors.

Anand said convertible arbitrage hedge funds were still showing strong returns despite low convertible bond issuance seen over the last year. The CSFB Tremont Convertible Arbitrage index showed a return of 4% in 2002, whereas the Standard & Poor's 500 equity index fell by 22%.

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: