|Ramius Capital Group has announced the launch of the Ramius Dynamic Replication Fund, its first mutual fund, which will focus on hedge fund replication. According to Hedgeweek, the fund is scheduled to open at the end of this month with over $100 million. The new venture’s mutual fund structure will allow investors access to typical hedge fund exposures while retaining its daily liquidity as a mutual fund.|
According to Hedge Fund Solutions’ most recent Catalyst Equity Research Report, last week Ramius sent Cypress Bioscience, Inc. (CYPB) a letter containing an unsolicited offer to purchase the company for $4.00 a share, claiming that the board should cease “blindly following a management team that continues to destroy shareholder value by making increasingly risky investments with shareholder money.” Ramius currently owns 9.9% of CYPB with 3,815,000 shares.
Separately, Peter Cohen’s Ramius Capital Group also nominated two individuals to the board of Extreme Networks, Inc. (EXTR) and requested that the board adjust its governance policies so that all directors are elected annually. Ramius Capital owns 5,228,979 shares, or 5.8%, of EXTR.