PARIS (HedgeWorld.com)–The alternative investment arm of Credit Agricole Indosuez, CPR Alternative Asset Management, launched a fixed-income arbitrage fund and plans to launch a global macro fund in coming weeks.
The LibertyView Fixed Income Arbitrage Fund was launched on Dec. 2 with 125 million euro (US$125 million) in seed capital from Credit Agricole. That followed an announcement that Credit Agricole was planning on selling its hedge fund subsidiary LibertyView Capital Management* of Hoboken, N.J., to Neuberger Berman Inc., a New York-based asset management firm.
After the deal is finished, the fixed-income arbitrage fund and all of CPR’s existing hedge funds will need to change their name to EQUALT, as the Paris-based alternative asset management subsidiary renames itself EQUALT Alternative Asset Management to reflect the sale of LibertyView.
Listed on the Irish Stock Exchange, the fund invests in the government bonds and bills in 11 different countries and uses interest rate futures and swaps. The euro-denominated fund has a 500,000 euro (US$ 500,750) investment minimum and is structured as a unit trust for qualified investors. Fees are a 1.5% management fee and a 20% incentive fee.