Ari Bergmann's Penso Capital Markets is set to begin trading a novel strategic hedging vehicle in January aimed at hedging against - or making outright bets on - a global crisis.
Penso, which manages $150 million, principally fund-of-funds assets, expects its new product to attract mostly multistrategy hedge funds, funds of funds and family offices looking to prepare their portfolios for a crisis affecting the global financial markets in the coming 12 to 24 months.
Penso will offer the fund at...