Hedge Fund Opens Office In New York, New Launch

Canadian Hedge fund Lionhart Ltd. this month announced the launch of a new fund and the opening of an office in midtown Manhattan, New York. Present in the US since 2000, the addition of the New York office positions the hedge fund to develop the U.S. markets.

The launch of Talon, a private equity hybrid fund, is scheduled for March 2008. With a minimum investment of $1 million, the new hedge fund will be set up with $50 million from Lionhart and $50 million from existing and new investors from the US, Middle East and Europe.

Lionhart said, "Talon will be investing into early stage private financings and placements across a number of sectors including minerals, mining and natural resources, energy, alternative energies, mezzanine and bridge financing, IT and medical technology, property development and sub-sectors of these main areas. Investors will have the opportunity to invest in a blend of all the sectors or in an individual sector."

CEO Terrence Duffy, commenting on the move, said, "Information flow for traders and convenience for investors will improve with this move to Manhattan. This makes a lot of sense given the direction Lionhart is moving and the understandable interest in our fund offerings."

Lionhart is a multi-strategy arbitrage hedge fund with $800 million under management. Lionhart's New York office will open with 11 staff including trading, research, investor relations, and administrative functions. The Toronto-based hedge fund has offices in the world's top financial centers now including New York, Toronto, London and Singapore.