Hedge Funds

Second Victus fund


New York-based Victus Capital is getting ready to roll out a second fund. The firm, which was started by equity-derivatives specialists from Credit Suisse First Boston and Lehman Brothers, only recently opened its first fund, seeded by money from a large institutional investor, to new investors.

Victus' second fund will employ the same strategies as the first fund, namely equity volatility arbitrage and convertible arbitrage, but will also allow for some leveraging of the portfolio. The fund estimates an average leverage of 3x the portfolio. The firm's first fund has averaged zero leverage. The added leverage in the