New York (HedgeCo.Net)- Black Pearl Capital today announced the official launch of Onyx MENA Fund, a Cayman Island regulated hedge fund with a target capital of $250 million focusing primarily on the MENA markets.
The Client Advisory Group (CAG) of Julius Baer will act as investment advisor and Merrill Lynch International will act as prime broker. The Onyx MENA Fund is an absolute return driven hedge fund that aims at capitalizing on the positive economic trends and investment opportunities in the regional markets.
The hedge fund has the required flexibility to invest in a wide range of instruments, including listed equities, debt securities, options, warrants, and other derivative instruments structured for the MENA markets. The MENA region, at close to $1 trillion Market Cap offers an uncorrelated play to global investors looking for solid returns and diversification.
‘Onyx MENA Fund will be a trendsetter,’ said Eyad Mashal, Executive Director of Julius Baer CAG. ‘The Fund is one of the first absolute return/ hedge fund instruments focused on the MENA markets. We are excited to be investment advisors to Black Pearl Capital on this pioneering fund.’
“We are delighted to be the prime broker to the Onyx MENA Fund. Merrill Lynch aims to be at the forefront of servicing hedge fund clients across cash, derivative and financing products in the rapidly expanding MENA markets,” Anita Nemes, head of EMEA financing sales, commented.
Alex Akesson
Editor
HedgeCo.Net
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