The co-founder of hedge fund firm Cube Capital is spinning out its real estate unit into a new entity in an effort to focus solely on managing hedge funds.
Reuters reported that the new London-based firm, called Quadrum, will be run by Cube founding partner Oleg Pavlov. The firm will invest in emerging markets, as well as in distressed opportunities in developed countries.
Pavlov will remain a remain a minority stakeholder in Cube, while Cube’s other two founding members will take minority stakes in Quadrum.
With offices in the U.K. and Hong Kong, Cube Capital manages approximately $1.3 billion in assets, however $350 million will transfer to Quadrum.