Redhedge Asset Management LLP (Redhedge), an FCA regulated hedge fund manager based in London, will be investing in a world class crew at Henley Royal Regatta.
The drive behind the investment is to enable athletes, who have left the professional and elite circuits, to race again at the highest levels of the competition without the financial burden that comes with preparing for the competition.
The members of the crew, which Redhedge will be investing In, have full-time jobs, and therefore, do not usually have the time to commit to such elite training programmes. By facilitating their training and competition needs, Redhedge hopes to change the scene and break down one of the main entry barriers into the sport.
The crew that Redhedge is sponsoring in the Grand Challenge Cup – the oldest race at the regatta – is comprised of ex-international Boat Race and Henley winning athletes, some of whom have won the Oxford & Cambridge Boat Race.
Established in 1839, Henley is one of the oldest rowing regattas in the world and has been a staple of the British sporting calendar for decades. The event attracts crews from around the world, and to the rowing community, it is regarded second only to the Olympics. This year, the regatta will take place over five days, between the 11-15 of August 2021.
In parallel with the actual race, Redhedge is hoping to contribute to charitable causes locally through various fundraising activities linked to the event.
One of the athletes (Joseph Guppy), who has rowed internationally for Great Britain and will be participating in the race, says: “The reason why this is different to anything done before is because boats are never given the financial support to row at an event. Investment only happens at the very highest level (Leander, Great Britain) but never for club level athletes. Redhedge will be the first ever to support a crew such as ours from start to finish.”
Maximillian Fisher, Quantitative Analyst at Redhedge, says: “Rowing was a very important part of my childhood and continues to be a sport with which I get involved. What is exciting about this partnership is that by giving ex-topflight athletes another seat at the table, the level of competition in the sport can only be driven higher.”
Andrea Seminara, Fund Manager and CEO at Redhedge, says: “The only people who ever benefit financially from participating in rowing competitions are those in the very top end squads, such as Olympians. This makes it very difficult for previous topflight athletes to compete at Henley or truly invest in the sport, as the commitment required is a full-time job. We are very excited to be investing in these athletes and strongly believe that every athlete, regardless of level, should be able to fully commit to the sport they love.”
