Hedge Funds

Octagon eyes new equity strategy

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New York-based Octagon Asset Management is contemplating the launch of a new strategy that would make opportunistic investments in emerging market equities triggered by macroeconomic or political upheavals. The move would mark a significant departure for Octagon, which until now has focused on global lending strategies.

Octagon's two largest funds, a commodities strategy and an entertainment portfolio, each manage nearly $100 million in asset-based loans. A third fund, which launched on April 1 and has about $10 million, focuses on transportation sectors, including shipping and trucking.

The new strategy, which would be long only, might invest in sectors targeted