Magellan Capital, a diversified investment management firm based in Dubai, has unveiled a multi-strategy hedge fund valued at $975 million, named the Magellan Absolute Return SPC. This fund will incorporate a range of investment strategies, including global macroeconomic analysis, emerging market credit, long-only equity investing, and a long/short equity approach.
The new fund aims to produce uncorrelated, risk-adjusted returns by targeting market inefficiencies that arise from structural and behavioral factors, as well as liquidity issues.
This launch marks a significant expansion beyond the company’s initial plans outlined in August 2024, when they announced a preliminary multi-strategy hedge fund with a budget of $700 million.
Currently, the fund is entirely funded by the internal capital from the ultimate beneficial owner of the firm, a structure that the company asserts demonstrates a strong alignment of interests between management and prospective investors.