London-based fund manager Rudolf Wolff, a long-standing name in the City thanks to its eponymous founder being one of the founders of the London Metal Exchange in 1877, is looking for a buye
London-based fund manager Rudolf Wolff, a long-standing name in the City thanks to its eponymous founder being one of the founders of the London Metal Exchange in 1877, is looking for a buyer for its Luxembourg SICAV structure reported HFMWeek. The SICAV in question is called the Rudolf Wolff Commercial Property Fund and could well appeal to hedge fund managers wanting to fast track into the alternative UCITS firmament. The fund was actually set up a year ago to buy and improve secondary commercial properties but for reasons unknown was never officially launched. Commenting on the decision to look for a buyer as opposed to just shutting it down, the firm’s director Howard Colvin (pictured) was quoted as saying: “I thought we could just close it down but there might be other hedge fund businesses that could take advantage and buy it from us. It takes quite a long time to set one up and get authorised in Luxembourg.” Goldman Sachs are the latest high profile entrant into the regulated fund space, launching their own Luxembourg UCITS platform last month. Two GLC sub-funds are already onboard.
