Gulf fund may get ADIA backing


A war in nearby Iraq hasn't stopped Bruce Albrecht starting one of the first single strategy hedge funds to be based in the Middle East. The global long/short equity fund, called Gazelle, is starting in the next few months with some of the money expected to come from the Abu Dhabi Investment Authority for which Albrecht used to work.

Albrecht is an American who worked at the ADIA for a number of years as a strategist and had planned to launch a fund from within the organization. However, he now appears to have branched out on his own and