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Ex-GIC bond manager planning London hedge fund launch

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Reuben Abrams, a former portfolio manager at Singapore sovereign wealth fund GIC, is planning to launch a London-based long-short equities hedge fund by the end of 2023, according to a report by Reuters.

The report cites a client note from BNP Paribas, dated 1 September, as revealing that the new firm, Adira Investment Management, is due to begin trading in the fourth quarter with a strategy focussed on both long and short bets in corporate credit.

According to his LinkedIn profile, Abrams spent over 17 years at GIC, most recently holding the position of Managing Director and Lead Portfolio Manager, Corporate Credit.

Credit funds trading bonds globally, in Europe and in the United States, outperformed the wider industry in the first half of 2023 averaging gains of about 4.4% compared to 3.4%, according to data from HSBC.

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