Fund launches & closures

Mako’s award-winning fixed-income RV strategy Pelagus Capital plans to re-open early next year to take assets to $1 billion level

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Pelagus Capital, Mako Investment Managers’ award-winning $800 million fixed-income relative value fund run by a team led by CIO and co-founder Bruno Usai, is to re-open early next year with a view to taking assets to $1 billion.


Bruno Usai


Pelagus, which launched in April 2007 and won back-to-back EuroHedge fixed-income awards for its performances in 2008 and 2009, has racked up an impressive track record since inception in very difficult and hazardous conditions in the major fixed-income markets.

Having returned 33% in 2008 and almost 24% in 2009, the fund is up by