11/01/2012 Author: Elana Margulies

Whitebox set to open second mutual fund

Whitebox Advisors, a Minneapolis-based institutional asset management firm with over $2bn in AuM, plans to open its second mutual fund, Whitebox Enhanced Convertible Fund (WBNAX), to external shareholders this quarter, after debuting its first, Whitebox Tactical Opportunities Fund (WBMAX), at the end of last year, HFMWeek.com revealed this week.

WBMAX is opportunistic-focused with a several-hundred-million-dollar target, while WBNAX looks at the convertibles space and has a $200m capacity.

Whitebox’s mutual funds debut marks the continued convergence between the alternative and traditional investment asset classes. HFMWeek previously reported that Connecticut-based Matarin Capital Management last year rolled out two hedge funds alongside a long-only offering. 

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