Marshall Wace Coming out on Tops

Permanent capital raisings by alternative asset managers have had a mixed record so far. Can Marshall Wace buck the trend? Investors have been wary of these listed vehicles since KKR’s E5bn fund earlier this year slumped below its issue price. The only deals since have been fairly small. Marshall Wace’s planned E1bn fund to invest in its Tops strategy is the biggest yet by a hedge fund and will be closely watched by other top-tier funds. Certainly the deal has been structured to try to elimate ...