The directors of the Cayman-based Camelot Global Investment in cooperation with Merlin Global Enterprise have announced a management buy-out.
The directors of the Cayman-based Camelot Global Investment in cooperation with Merlin Global Enterprise have announced a management buy-out. The company will join Arkanar Financial Holding and the head office moves to Tallinn in Estonia with a branch remaining in Cayman.
The key staff members are all continuing in the new company. Head Trader Thomas Feldt and Jevgeni Geller are still shareholders and directors of the company. Jevgeni Geller will concentrate on business development and in his new and extended role, he will be overseeing all operations to ensure continuity in performance and service. Thomas Feldt will continue to head the trading desk and will be responsible for investment strategy.
The board stated, ‘It is important that we were able to maintain all trading and administrative staff, we have only lost the former majority shareholders who decided to retire and leave the industry. The main issue was to have all traders committed and our promotion staff, no one is leaving, which is good news.’
Luxembourg-based Bob Torkelund has joined as Managing Director and co-shareholder and will head the entire promotion, distribution and servicing of funds and lead the launches of new products according to market demand.
‘I am really delighted to be able to be part of this young, dynamic team esp. because we have been working together for a while on a consulting basis and have got to know each other very well and know where to support each other. The combination of my experience and contact network makes it a thrilling opportunity for both parties’, says Torkelund.
‘The investment strategy continues the previous success – Thomas Feldt has made sure that the systematic trading and global macro strategy are constantly adjusted to the market changes to ensure constant development in the returns,’ he adds.
On 15 September 2008 Arkanar Financial will be launching its first Cayman licensed fund in cooperation with Capita Financial, Gibraltar.
Torkelund says, ‘One of the significant differences to non-regulated funds is that we can offer investments from as little as USD 10,000 and subsequent deals from USD1,000 on top we have Electronic clearing facilities ( Euroclear /Clearstream) and can accept deals on a ‘payment against delivery’ basis which opens basically for a large number of Europeans banks to be able to invest on behalf of their clients, a big step in the direction of getting the more general investment population to be able to test hedge funds without having to risk a large part of their portfolio on one position. The initial offering period will be running till 15 October.’
He adds: ‘There are some other products from the Arkanar family in the pipeline which we can hopefully present in autumn.’
