Olympia Adds Leveraged Fund, N.Y. Analyst

By Staff Writer

April 12, 2004 at 08:00 PM

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PARIS (HedgeWorld.com)–Olympia Capital Management SA launched a leveraged multi-strategy fund of funds, Olympia Star II Plus (Euro) Class.

The new fund is based on an existing fund of funds approach under the Olympia Star II name that will carry two times leverage, according to a statement from Olympia, which manages US$2.5 billion in alternative assets.

Olympia Star II Plus managers are hoping to earn eight to 15 percentage points above LIBOR, before currency hedging, and with a standard deviation of 8% to 12%. The idea for the fund came from client demand supported by academic research that supports leveraged low-risk funds, according to the statement.

The fund charges a 2.5% management fee and a 10% performance fee with a high watermark. Olympia officials have applied for a listing in the Irish Stock Exchange, Dublin, Ireland.

The Bermuda-domiciled fund was launched April 1 with a minimum to invest of 250,000 euro.

Separately, an affiliated sister company in New York, Olympia Capital Management Inc., recently hired Lissa A. Rosenthal as an analyst and vice president.

The hiring was part of an expansion for Olympia Capital said Alan Swersky, vice president for Olympia in New York. Olympia now has 80 employees.

Ms. Rosenthal performs manager research and strategic due diligence on U.S. long/short managers, according to Olympia. She previously worked as an associate for Credit Suisse First Boston in its prime services sales department, according to a statement from Olympia. Ms. Rosenthal reports to Veronique Courlier, head of alternative investments.

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