Hedge Funds

APG-backed IMQubator seeds Passey's long-standing 'pure' CB arbitrage fund


Firm's sixth alternative investment deal takes fund's total assets to around $40 million

IMQubator, the Amsterdam-based emerging manager fund backed by Dutch pension fund giant APG, has made its sixth alternative investment seeding deal with a €25 million investment in Rory Passey's long-standing Boston and Alexander Number One convertible arbitrage fund, taking total assets to around $40 million.

Patrick Hall

Passey - who has been in the financial markets for almost 30 years, having begun his City career as a Gilt market-maker at Akroyd & Smithers in 1981, and has worked in the convertible market since 1989 - first launched the Boston and Alexander Number One Fund back in