DE Shaw & Co plans to launch Heliant Hedge Fund in Q1 of 2010

December 27th, 2009
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Hedge fund manager D.E. Shaw & Co. has announced plans to launch the D.E. Shaw Heliant Fund, a new hedge fund that will employ a modified version of the D.E. Shaw Oculus Fund’s strategy together with increased liquidity and transparency to appeal to investors. Like the Oculus Fund, the Heliant Fund will invest primarily in traditional macro investments but steer clear of equity arbitrage, asset-backed securities and energy-related strategies, all of which might hamper the fund’s liquidity, according to Financial Times.

The D.E. Shaw Heliant hedge fund will employ the traditional two-and-twenty fee structure, which is considered a standard in the hedge fund industry, but a price drop from Oculus’s 2.5 and 25 percentage fees. D.E. Shaw also plans to lower its well-known levels of secrecy with Heliant: the firm will allow Citco Fund Services, a third-party administrator, to verify the fund’s position on a monthly basis, Credit Suisse Asset Management will generate analytics reports for investors, and D.E. Shaw itself will create quarterly operational updates with asset breakdowns to increase transparency.

D.E. Shaw & Co. was founded in 1988 by chairman and CEO David E. Shaw. The firm plans to launch the Heliant hedge fund in the first quarter of 2010.
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D.E. Shaw & Co
Related People: Anne Dinning; David E. Shaw; Eric Wepsic; Julius Gaudio; Louis Salkind; Max Stone; Stuart Steckler
Related Entities: D. E. Shaw Oculus Portfolios, LLC; D. E. Shaw Valence Portfolios; D.E. Shaw Group; D.E. Shaw Investment Management; DE Shaw Heliant Fund
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Launches and Hedge Fund Closings

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