June 5 (SeeNews) - Croatia's financial services regulator, Hanfa, said it gave the green light to alternative investment fund manager N3 Capital Partners to launch a hedge fund.
N3 Capital Partners received approval to set up and manage N3 High Yield open-ended alternative investment hedge fund with private offering, Hanfa said in a statement last month.
The multi-strategy hedge fund will not have the structure of its portfolio determined in advance as it will adjust the portfolio depending on market conditions. The fund will invest primarily in debt indstruments of financial institutions which meet the minimum requirement for own funds and eligible liabilities (MREL) of the European Union. However, the fund will be also able to invest in other financial instruments.
According to its website, N3 Capital Partners manages N3 Global Value, a multi-strategy hedge fund that primarily invests in a relatively concentrated portfolio of equities, which it believes will ensure sustainable, above-average returns to its investors.