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Hedge fund firm eyes carbon

Stuff – Hedge fund firm Pure Capital plans to launch a range of funds, including products playing food and carbon markets.

Anthony Limbrick, chief investment officer of the New Zealand-based firm, told Reuters the Pure Carbon fund, which will be seeded with the firm’s money, will trade in the European carbon market and have an initial capacity of $US20 ($NZ32) million.

He said the fund will aim to grow as the carbon market evolves, but is also ready to exploit the possibility of a slump in the segment.

"We think there’s a 30 percent chance the market collapses … That could create a `fat tail’ (a very rare event with major consequences) for us to make money," he said in an interview at the GAIM 2009 hedge fund conference.

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