Fund launches & closures

Moore spin-out Salute Capital set to roll out Mission EM macro fund to external investors

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Salute Capital, the London-based emerging markets hedge fund group that spun out of Moore Capital at the end of 2009, is believed to be opening up its new Salute Mission emerging markets macro fund to external investors from the start of March.

Sources say Salute – which is led by former Moore Capital portfolio manager Lev Mikheev and has offices in London and Moscow – has been running the strategy with just over $100 million of initial seed capital since December.

The investment team on the Mission Fund – which pursues a global emerging markets macro strategy –