Lionhart Ltd., a global, multi-strategy arbitrage hedge fund, with $800m under management, today announced that it has opened an office at 540 Madison Avenue in midtown Manhattan. Lionhart has been present in the US since 2000.
With the addition of the New York office, the Toronto-based hedge fund now has offices in the world’s top financial centres including New York, Toronto, London and Singapore.
“Information flow for traders and convenience for investors will improve with this move to Manhattan. This makes a lot of sense given the direction Lionhart is moving and the understandable interest in our fund offerings,” says Terrence Duffy, CEO, Lionhart.
“While we have had good success in North America, we are now better positioned to develop the US markets. Despite the large number of choices for US investors, Lionhart’s product offering, historical returns and adherence to risk management have created a groundswell of interest,” adds Tom Scanlan, who leads Lionhart’s investor relations in the US.
Lionhart’s New York office will open with 11 staff including trading, research, investor relations, and administrative functions. The opening follows the reorganisation, effective May 2007, of the existing funds into Master/Feeder structures employing BVI segregated portfolio company legislation allowing for on-shore and off-shore investment into Lionhart funds.
This restructuring offers a distinct advantage to US investors wishing to invest in Lionhart.