Launches & Closures Hedge Funds

Black River launches $200 million emerging markets fund

by

The Black River Emerging Markets Fund employs directional and relative value strategies and invests primarily in Latin America, Europe, the Middle East and Africa.

Black River Asset Management launched an emerging markets fund on June 1 with $200 million in capital from parent company Cargill, according to people familiar with the matter.

The fund, called the Black River Emerging Markets Fund, emphasizes liquid trading and invests primarily in Latin America, Europe, the Middle East and Africa. The broad strategy employs directional and relative value strategies and trades local fixed income, foreign exchange, equities and external debt. Black River declined to comment on the new fund.

Black River, which is based in Minnetonka, Minn. and manages approximately $5 billion overall, has only recently