Copenhagen-based Mermaid builds on Nordic l/s success with offshore launch
Mon Jul 23, 2012
Former ABN Amro equity team target growing international demand for a Danish-run Nordic long/short equity strategy that has steadily returned more than 30% since 2007, generating positive performance in both 2008 and 2011
Mermaid Asset Management, the Copenhagen long/short equity boutique led by co-founders Thomas Juul-Larsen and Ulrik Jonsen, is attempting to broaden its investor base overseas with the launch of an offshore version of its successful Mermaid Nordic Hedge Fund.
The original fund has been running since September 2007 and is domiciled in Denmark. While Danish investors accounted for the majority of fund assets early on, that balance has been shifting for some time.
Back in 2010, Juul-Larsen told EuroHedge that international interest was beginning to outstrip domestic demand. Furthermore the firm has also seen a shift towards institutional inflows, having initially attracted mainly private wealth capital.
While foreign investors have always been able to invest in the Danish fund, Juul-Larsen believes the use of a standard Cayman offshore structure is likely to reassure some investors and enhance the perception that allocating to the strategy is now easier...
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