Appleton Capital Management, a Dublin-based commodity trading advisor with $110 million under management, will launch a fixed-income arbitrage hedge fund on September 1, according to BW sister publication Alternative Investment News. The Appleton Fixed-Income Opportunity Fund will be run by Stephen Lane, previously a trader at ABN AMRO, says Jeremy O'Friel, head of marketing. The fund will mostly trade European and U.S. investment-grade corporate debt, he added.
Appleton will look to cap the fund at $500 million. It will be marketed to funds-of-funds and high-net-worth individuals in the U.S. and Europe, says O'Friel. The fixed-income fund is being seeded with $20 million by Appleton Capital Management and five outside investors.