Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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GLG Alums Granted Approval from FCA

Jun 10, 2013
Jing Chen

Five former GLG employees have been given the green light to start trading in their new hedge fund by U.K. regulators.

Financial Times reported that Zach Mecelis, Toby Mitchell, Jakob Moberg, Peter Murphy and Rolanos Stikovas launched Covalis Capital and was finally granted approval by the Financial Conduct Authority two weeks ago.

The Europe-focused fund bets on utilities, infrastructure, renewables and commodities companies. While its current assets under management was not disclosed, the firm is looking to raise additional capital.

Prior to the fund’s approval by the FCA, it operated through regulated platform Mirabella Financial Services.

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