Peninsula Investimentos raised money for a hedge fund that caters to high-net-worth clients.
Bloomberg News reports that the fund - called Peninsula Hedge Master Fundo de Investimento Multimercado - started in December and is now closed to new deposits, a filing with the Brazilian securities regulator, known as CVM, showed yesterday.
The fund invests only in liquid assets such as stock, fixed-income bonds and futures markets, according to the filing.
This is the first fund for Peninsula, a partnership between Credit Suisse and a group of 16 executives including Peninsula Chief Executive Officer Antonio Quintella, who previously led the Americas for the Zurich-based bank, and Sergio Fraiman Blatyta, ex-head of proprietary trading at Banco Santander Brasil SA.
Credit Suisse Hedging-Griffo, the lender’s asset-management and private-banking subsidiary in Brazil, is among firms that are distributing the new hedge fund to clients. The fund returned 7.14% this year through yesterday, according to the company’s website, outpacing the 4.62% interbank interest rate.
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