Hedge Funds

Magnum, GP Asset Management team up for new fund

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Magnum Global Investment Ltd. and GP Asset Management LLC announced they have launched a new hedge fund, the G2 Special Situations Offshore Fund, which will invest in what Magnum calls "overlooked and under-priced" companies that fall into the special situations category.

This includes companies that are emerging from bankruptcy, companies involved in spin-offs or restructurings or companies that have other complex capital or corporate structures sufficiently complex to keep traditional investors at bay. The fund is being run out of Magnum's offices. GP Asset Management, which creates and distributes alternative investment products, will jointly sponsor the fund.

Leonard Gross