Private equity player Baer Capital Partners plans to launch $ 250 million India-dedicated hedge fund by the year-end. Baer Capital is the first hedge fund to announce its India plans, after the recent proposal by the Securities and Exchange Board of India allowing direct entry of hedge funds.The fund is likely to be called Beacon India Growth Fund.
Baer Capital will have to register as a foreign institutional investor (FII).The fund will be investing in public (or listed) companies. It will be a long biased hedge fund using futures/derivatives to hedge itself against market decline. It will have more flexibility to stay in cash or take concentrated position and will be focused mainly on the mid-cap stocks across sectors.
The shareholders of Baer Capital Partners are the Fleming Family (10 per cent), Dubai Holding (15 per cent), founders Michael Baer, Alok Sama and Brij Raj Singh (together 50 per cent) and the balance by Shuaa Capital and CQS Management, London-based leading hedge fund company.
Read more in The Business Standard article.
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