Caravel launches new Canadian feeder fund
Caravel Capital Investments Inc has launched a new feeder fund, the Caravel Capital (Canada) Fund, which will be managed by Corton Capital Inc. The feeder fund is open to Canadians with a minimum of $1000, including RRSP, RESP, TFSA, and accredited Canadian investors.
Caravel, an event-driven market-neutral hedge fund based in Nassau, The Bahamas, engaged Corton Capital Inc as its investment fund manager, portfolio manager, and exempt market dealer in connection with the distribution of units.
Caravel Capital (Canada) Fund will provide investment managers, family offices, and High-net-worth-individuals (HNWIs) the ability to invest in the offshore market-neutral fund led by Glen Gibbons and Jeff Banfield since 2016. Corton Capital will market and facilitate Canadian subscriptions directly through Corton’s SMA (Separately Managed Account) programme, Canadian retail brokers via FundSERV, or direct investment.
Corton Capital Inc was incorporated in 2018 and provides smaller investors and RRSP, RESP, and TFSA accounts the ability to participate in the Caravel Capital Fund for the first time. Corton is registered as a portfolio manager, investment fund manager, and an exempt market dealer under the Securities Act in Ontario, Quebec, and British Columbia. In Alberta, New Brunswick, Saskatchewan, Nova Scotia, and Manitoba, Corton is registered as an exempt market dealer and portfolio manager.
Gibbons and Banfield utilise several strategies, including but not limited to convertible arbitrage, relative value arbitrage, capital structure arbitrage, merger arbitrage, distressed debt, and alpha long/short.