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Portfolio > Alternative Investments > Hedge Funds

Genoa Capital to Launch Canadian and U.S. Hedge Fu

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MONTREAL (HedgeWorld.com)–The Canadian hedge fund firm Genoa Capital Inc. announced last week that it would launch two new funds in January 2003. Both partnerships would use relative value arbitrage (pairs trading), merger arbitrage and event-driven arbitrage as strategies and be Canadian-focused.

The Genoa Maple Leaf LLP fund is open to Canadian investors, and the Genoa Old Glory LLP is open to American investors. The firm anticipates raising US$7 million to US$10 million in seed capital.

Genoa Capital has employed this multi-arbitrage strategy in the past with its premier fund, Genoa Capital, launched in 2001. Ron Mayers, formerly a managing director of National Bank Financial’s arbitrage department, founded the firm in April 2001. The firm currently has US$65 million under management and is planning a Cayman Islands-domiciled fund, Genoa Silver Thatch LLP, to open later in 2003.


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