Hedge Funds

Dexion set to restructure Dexion Equity Alternative

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Dexion Capital is in the throes of restructuring the portfolio of Dexion Equity Alternative, the UK-listed funds of funds that are sub-advised by K2 Advisors in the US.

Robin Bowie, founder of Dexion Capital, explained that the original mandate for Dexion Equity was to mix equity long/short managers with credit long/short managers, but that in the listed field at least this cocktail was no longer popular as judged by the widening discount. Currently, the fund, which was launched in April 2004, has $130 million under management.

Dexion had two choices, one was to close Dexion Equity Alternative and