Liongate Capital Management

Liongate Capital Management
Industry Financial services
Founded 2003
Defunct 2015
Headquarters London, England, UK
Products Investment Products
Website www.liongate.com

Liongate Capital Management was a global investment management firm focused on creating and managing fund of hedge fund investments for institutional and private investors. Liongate, founded in 2003, managed a range of funds of hedge funds in both commingled funds and tailored, single client portfolios. The firm, which at it peak managed over USD 3 billion, had a global reach with offices in London, New York, Zurich, Dubai, Malta and Mumbai. Principal Financial Group purchased the firm in 2013, and closed funds under its management in 2015, after asset stripping the firm of its people, proprietary systems, and offices for the use of PGI, the insurance conglomerate's asset management arm. [1]

The firm’s flagship Liongate Multi-Strategy Fund, launched in April 2004, was a diversified fund of hedge funds that aimed to deliver a consistent annual return to investors within a targeted annualised standard deviation of 4-6%. The Liongate Commodities Fund was launched in January 2008.

Liongate Capital Management was authorized and regulated by the Financial Services Authority (FSA) in the UK and was a registered investment advisor with the Securities and Exchange Commission (SEC) in the US. Liongate was also a member of the Investor Chapter of the Hedge Fund Standards Board.

Principal Financial Group (US:PFG)[2] acquired 55% of Liongate in 2013 to expand in hedge funds and meet demand for alternative investments.[3] By the time Principal purchased the fund, it had declined from its peak of 3 billion USD to just 1.4 billion USD. Due to the fund's high fees, investors continued to withdraw from it over the next two years. After the fund had declined further to 500 million USD in 2015, Principal decided to close it. Remaining investors had their cash refunded when the fund closed.[1]

See also

References

  1. 1 2 "Principal Financial to shut fund of hedge fund firm Liongate". Reuters. 2015-10-16. Retrieved 2016-08-27.
  2. ↑ https://www.bloomberg.com/quote/PFG:US
  3. ↑ https://www.bloomberg.com/news/2013-03-04/principal-agrees-to-buy-55-stake-in-liongate-hedge-fund.html
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