BlueCrest in second spot with AllBlue

BLUECREST AllBlue yesterday became the second largest listed hedge fund after it tapped investors for £83.3m in its third share placing in nine months.

The only larger listed hedge fund is BH Macro, which was floated by Brevan Howard in 2008. BlueCrest AllBlue now has assets of £904m across its three share classes, while BH Macro has a combined £1.17bn, according to data from RBS.

BlueCrest AllBlue placed a total of 52.6m new shares with its investors, equivalent to just under a tenth of its share capital. It had previously raised £101m in December last year and £349m in June.

Mark James, a managing director in the investment funds team at RBS, said the placings prove “there is still considerable demand for listed hedge funds, despite the growth of competing structures such as UCITS III”.

“It shows there is strong support for funds managed by a single hedge fund group, such as BlueCrest, which offer exposure to a range of hedge fund strategies,” he added.