TORONTO (HedgeWorld.com)–BluMont Capital Inc. raised C$52.1 million (US$39.2 million) with its BluMont Man Multi-Strategy Series 2 Notes structured hedge fund, which was launched earlier this year in a joint effort with Man Investments, London.
The principal guaranteed notes are managed by combining funds of funds with futures, arbitrage, equity hedge and long/short equity, according to a statement from BluMont.
The fund uses leverage of 1.5 times and matures in 11.5 years. Citibank Canada, Toronto, provides the guarantee on the notes (see Previous HedgeWorld Story).
The securities were sold through a syndicate of brokers led by CIBC World Markets Inc., Toronto. The first fund in the series raised C$35.8 million late last year (see Previous HedgeWorld Story).