Launches & Closures

BlueTrend raises £165 million for new LSE-listed feeder fund


BlueCrest, the $27 billion hedge fund group led by Mike Platt, has succeeded in raising £165 million for a new stockmarket-quoted closed-ended feeder fund that will allocate to the group’s $13.6 billion BlueTrend systematic strategy.

The new feeder vehicle, BlueCrest BlueTrend Limited, will be traded on the main listed securities market of the London Stock Exchange. The issue is expected to comprise 105,206,017 sterling shares and 94,973,308 US dollar shares.

The feeder will have access to the systematic strategy – which is run by BlueCrest’s large quantitative team led by Leda Braga – via an investment in BlueTrend