U.S.-based hedge fund manager PEAK6 Investments is capping one of its newest funds after receiving significant inflows from Australian investors.
Financial Standard reported that Australian client money accounts for about 7% of the fund’s $1 billion in capital. The fund launched in September 2012.
The article said that the fund will reopen in September and anticipates that it will reach its target capital of $2 billion by the end of the year.
Joe Scoby, who oversees the fund, explained that “a big Australian super fund came to see [PEAK6] in Chicago recently and a major consultant and another super fund coming next week.”
Founded in 1997, PEAK6 has offices in Chicago and Seattle.